Telecom’s shares hit their lowest point since 2010 weeks after it announced acquisition of U.S.-based fibre internet provider
have attracted more analyst downgrades this week, and some are calling for a cut to the company’s dividend.
He acknowledged that while a cut might initially be “painful,” it would build a stronger foundation long-term.and said that it was putting dividend hikes on hold at an annual payment of $3.99 for all of 2025, and instituting a DRIP to help fortify its balance sheet. However, not all analysts believe Bell will cut the dividend in the near-term. On Wednesday, Canaccord Genuity Group Inc., lowered its estimate to $33, saying it expected the company to stick to its dividend commitments and the DRIP for 2025.
If the stock continues to weaken, the case for the DRIP weakens alongside it, due to equity dilution at low prices, Mr. Galappatthige said. “In that backdrop, the dividend may well have to be revisited.” Ms. Murphy said Bell’s recent $4.7-billion sale of its stake in Maple Leaf Sports & Entertainment, the Ziply acquisition and its investments in fibre infrastructure were made to support the company’s long-term growth.
“Although the DRIP program provides some potential short-term relief, we project it only to be in place until the end of 2025,” said Morgan Stanley analyst Benjamin Swinburne.
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