Topic: How To Invest

The Successful Investor Hotline – Friday, September 20, 2024

Article Excerpt

BCE INC., $47.56, Toronto symbol BCE, remains your #1 Income Buy for 2024. The company is Canada’s largest traditional telephone service provider. It has 1.92 million residential customers in Ontario, Quebec, Manitoba and the Atlantic provinces. It also has 4.52 million high-speed Internet users and 2.12 million fibre-optic TV subscribers. In addition, the company sells wireless services to 13.22 million users across Canada (including mobile devices like tablets), and it owns TV and radio stations. BCE has agreed to sell its 37.5% stake in Maple Leaf Sports and Entertainment (MLSE) to Rogers Communications Inc. (Toronto symbol RCI.B). MLSE is the holding company for several professional sports franchises, including the Toronto Maple Leafs (National Hockey League), the Toronto Raptors (National Basketball Association), Toronto FC (Major League Soccer) and the Toronto Argonauts (Canadian Football League). After the sale, Rogers will own 75.0% of MLSE. The other owners are Larry Tanenbaum (20.0%) and the Ontario Municipal Employees Retirement System (5.0%). BCE will receive $4.7 billion for its…