Message from the Chair of the Board

Transformation driving value for the BCE group of companies

Bell’s purpose is to advance how Canadians connect with each other and the world. We are proud that through our world-class fibre and wireless networks, people are able to connect with one another, be productive, and stay informed and entertained each and every day.

This year, we expanded our reach, connecting even more Canadians to our leading fibre and wireless networks – critical to building Canada’s innovation pipeline and future economic prosperity for people, businesses and communities.

We are committed to enhancing customer experiences by simplifying interactions through digital solutions for both our residential and enterprise clients, all while driving cost efficiency.

Bell Media continues to deliver some of Canada’s most compelling entertainment, sports and news content. Understanding Canadians’ shifting media consumption habits, we continue to pivot toward digital-first media experiences to meet the dynamic needs of our audiences.

To continue delivering on our purpose in the future, this year, Bell embarked on a transformation journey from a traditional telecommunications company to a technology services and digital media leader. By exploring new and emerging areas of growth, we are crafting a roadmap for resiliency in the context of a complex and rapidly-changing environment.

Bell for Better

We recognize that our impact and reach as a company goes far beyond our core communications and media businesses. As one of Canada’s largest companies, we have an important role to play in building better communities and a better future.

Bell continues to make strides in reducing its environmental footprint. We are focused on our efforts to meet our ambitious emissions reduction targets and we continue to work to build upon our environmental protection efforts.

Our dedication to mental health awareness is delivering real results. Since 2010, Bell Let’s Talk has become the world’s largest conversation about mental health, and Bell expects to reach its current mental health funding commitment of $155 million by the end of 2025.

In April 2023, after extensive consultation with persons with disabilities, we launched the first company-wide accessibility plan. This plan will allow BCE to identify, prevent and remove barriers to accessibility in support of the principles set out in the Accessible Canada Act.

Our progress in contributing to a better world has not gone unnoticed. Early in 2024, Corporate Knights named Bell the most sustainable communications company in the world in its Global 100 Most Sustainable Corporations ranking.

Mediacorp ranked us one of Canada’s Top 100 Employers for the ninth year in a row, and Bell Technical Solutions was honoured with an Outstanding Commitment to Employment Equity award by Employment and Social Development Canada.

Shareholder returns

I am pleased by the progress we made in 2023. Our performance underscores the critical importance of balancing near-term and long-term priorities to deliver for our shareholders, positioning us to seize upon future opportunities for growth.

In 2024, we are increasing our common share dividend by 3.1% to $3.99 effective with the Q1 2024 payment on April 15, 2024. This is our 16th consecutive year of uninterrupted dividend growth.

Board update

The BCE Board continues to uphold the strongest principles of governance excellence. As Chair, I am immensely proud that we were ranked the fourth best-managed corporate board in Canada by the Globe & Mail for 2023.

In November 2023, we welcomed Johan Wibergh as a director on the BCE Board. Johan brings extensive experience as the former Chief Technology Officer of Vodafone and as former EVP & Head of Business Unit Networks for Ericsson. His leadership and expertise will fortify our transformational journey.

The road ahead

Despite our success over the past year, challenges remain. Regrettably, recent decisions from the federal regulator are already having a negative impact on our future investment in communities across our footprint. As we continue to connect more Canadians, we need a public policy environment that supports and encourages private investment in network infrastructure.

In the year ahead, we will navigate the economic and regulatory environments, while strengthening the pillars of our transformation and executing on our strategic priorities.

On behalf of the Board, thank you to our shareholders. I trust you share our confidence in the future direction of the BCE group of companies as we continue on our transformation journey to a technology services and digital media leader.