BCE Buys Back 2.1 Million Shares

BY: 

Dave Forde
December 29, 2011

Communications giant BCE announced earlier this week that it will buy and cancel up to 2.1 million of its common shares under private agreements with an arm’s-length third-party seller.  The common shares will be counted towards the 6.5 million common shares it plans to buy back over the next year.

BCE did not disclose how much it will pay for the shares, which are worth around $87 million at their current TSX price of $41.43.
Companies buy back shares to reduce their equity base, spreading profits over fewer shares, and thereby increasing earnings per share.

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Dave Forde


Dave “The Connector” Forde has been involved in the marketing, public relations and technology industry across Canada for over 20 years in various sales and marketing roles, he launched The Connected One network of business sites which connects buyers to the right sellers. Profectio and PR In Canada covers news about the marketing and public relations industry each day helping professionals advance their career and businesses. He also serves as an advisor to a number of businesses across the country. Find Dave on LinkedIn and Twitter.


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