BCE

Key Takeaways

• Bell now runs two businesses against one balance sheet: a Canadian telecom operator growing revenue in the low single digits, and a national AI compute build whose Saskatchewan campus alone carries roughly C$1.7 billion of planned capital [Source: Bell AI Fabric news release, 300 MW Saskatchewan data centre]. • That build is what makes this year uncomfortable, because management guided 2026 free cash flow down 28% to 34%, to a range of C$3.3 to C$3.5 billion, and the reset payout has to clear

Institutional ownership

389 institutional managers reported holding BCE in 13F filings for the quarter ended 2026-03-31. Together they hold about 45% of the company; the top 10 hold 29%. 44 opened new positions that quarter. Held by Vanguard Group, Two Sigma, Arrowstreet Capital, among others. On the short side, 24.9M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (5.7 days of typical volume to cover).

Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.

Capital returns

BCE's share count grew 2.5% over the past five years. It pays a dividend, and has paid one every year in our records (10 and counting). Cash returned over the past three years: $9.69B in dividends.

Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.

Compare BCE

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