$1 billion in second-quarter free cash flow gave BCE far more room to fund operations after resetting its quarterly dividend to $0.44 from $1.
The new payout now requires about $408 million across the current share count, easing pressure created by debt, heavy capital spending and weak telecom growth.
Canadian communications revenue still faces pressure, but operating costs in that division fell 4.7% year over year, lifting adjusted EBITDA margin to 46.1% from 45.7%.
BCE is leaning on fibre additions, Ziply Fiber expansion, Crave growth and AI-powered business services to rebuild revenue while using the lower dividend burden to support investment and debt reduction.