The Financial Post reports in its Saturday edition that Canada's two largest telcos sent two very different messages to yield-hungry investors, who, amid low interest rates and stumbling oil and gas sectors, rely on the maturing industry for income. The Post's Christina Pellegrini writes that BCE raised its quarterly dividend by 5 per cent to 68.25 cents a share. In the last seven years, it has increased its dividend 12 times and by 87 per cent, really embracing its identity as a dividend-paying stock that is also aiming to grow. On Jan. 27, Rogers kept its quarterly dividend flat at 48 cents per share. Instead of issuing the expected hike, it opted to keep the cash and pay down debt. Chief financial officer Anthony Staffieri explained that shareholders will not see another increase until the cableco reduces its leverage ratio to 2.5 times, or less, from 3.1 times. Telcos are not the high-flying, glamour stocks they once were. "But could it be that they are also no longer dividend stories," either? said said CIBC analyst Robert Bek in a note. "Canada is probably the most crowded yield trade in the world," said Macquarie's Greg MacDonald. "I think the market puts a significant amount of weight on dividend growth."