BCE Inc. (BCE.TO)

Have held this for a long time with good gains. Should I consider selling some and buying back at a lower price? If you are a long-term investor, especially if you have bought this at much lower levels, not sure how clever it is to sell some as you pay a capital gains and you have to try and replace the yield.

(Market Call Minute.) You could add in this environment. There will probably be a little bit of slowing growth but good solid dividend and dividend increases.

Very expensive. His model price is $32.39 versus the current price of $44.45, a negative 27%. If it got up to $47.57, he would Sell all shares. People like the 5.25% yield.

For this company and most telco operators, you should fixate on capital intensity ratio, which for most Canadian telcos are reasonable. This is a very good company and you are probably going to get a lot more dividend growth out of it. His concern is with long-term growth challenges as there continues to be a secular decline in the wireline business. Trading at 7X EBITDA and you can get global telecoms trading at a sizable discount with much higher yield and more capital appreciation potential.

A core holding for him. Tries to add to it on weakness but there hasn’t been too much weakness lately. Likes its propensity to increase its dividend.

Low risk. Great dividend of 5.3% and this will be a growing dividend. You won’t get tremendous growth from a stock like this but will probably get single digit growth over the long-term.

Has been in his portfolio forever. Dividend of 5.4%. Feels they are getting more competitive with Telus (T-T) and Rogers (RCI.B-T). Over time the stock should do pretty well and will increase their dividends.

Likes telecom sector because of its predictable cash flows and not a lot of risk to the economic cycle. If he had to choose between Bell and Telus (T-T) he would probably choose Telus, which has been more predictable from a dividend standpoint. Bell gives you a 5% yield.

Have been 8 dividend increases in the last 16 quarters. Currently yielding north of 5.25% in a marketplace where you get 2% on a 10 year government bond. There are some catalysts for this company including playing catch-up to the competition on their subscribers.

Is this range bound? If so what are the lower and upper ranges? Are there any catalysts in the foreseeable future that will propel it higher? Looking at the chart, he would say it is not range bound at all but is really a long term hold. Dividend yield of over 5%. Prefers Telus (T-T) which has gotten approval to change its non-voting shares for common shares on a one to one basis.

Was in a downward trend and formed a nice little base pattern. Above $43 you will have an uptrend.

Wire line business did poorly and he thinks this will change as IPTV rolls out and the footprint will get to about 68%. Wireless and media did very, very well in the last quarter and will continue to do well. Expects there will be more clarity in February, which is their 4^th quarter. Fairly valued and there is some opportunity for it to go slightly higher. Doesn’t think the NHL lockout affects them that much.

Is this a good choice for a steady income for a retiree? A report just came out that if smart phones get to 70% as an installed base in Internet, the growth of this company will slow down sharply, competition will be tough and it will be tougher to grow earnings as quickly, and therefore the dividends. He feels there is no chance for the dividends on this company to get cut.

He evacuated the telco space some time ago. There are better places in the telco space outside of Canada. They all had a bit of a pullback. The dividend is safe and they are not doing anything difficult. You can buy them as they pullback into support. You can either trade or hold a core position.

(A Top Pick Dec 9/11. Up 11.78%.) Expecting further dividend increases so he likes it. Good stock to hold in this environment.