5 Best Telecom Dividend Stocks to Buy for 2022

4. BCE Inc. (NYSE:BCE)

Dividend Yield as of October 18: 6.52%

BCE Inc. (NYSE:BCE) is a Canadian mass media company that specializes in telecom-centric services. The company’s operating cash flow in Q2 2022 stood at nearly $2.6 billion, up 4% from the same period last year. Its free cash flow also jumped to $1.3 billion, from $1.24 billion in the prior-year period. The company paid $34 million in dividends to shareholders during the quarter, which shows its stable cash flow.

BCE Inc. (NYSE:BCE) has raised its dividends for consecutive two years after ceasing its payments during the pandemic in 2020. It currently pays a quarterly dividend of C$0.92 per share for a dividend yield of 6.52%, as of October 18.

In October, TD Securities upgraded BCE Inc. (NYSE:BCE) to Buy with a C$62 price target. The firm expects strong results from the company in Q3, especially from its wireless segment.

At the end of Q2 2022, 12 hedge funds tracked by Insider Monkey owned stakes in BCE Inc. (NYSE:BCE), compared with 11 in the previous quarter. These stakes have a total value of nearly $102.6 million. D E Shaw is among the company’s top shareholders in Q2.