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Telus raises dividend despite slip in first-quarter profit

May 10, 2018 4:48 PM
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The company says it will make a quarterly payment to shareholders of 52.5 cents per share, up from 49.25 cents per share.

Its postpaid wireless subscriber base increased by 48,000 in the quarter, a 5.7 per cent larger increase than a year earlier, partly offset by a decline in prepaid subscribers, who account for about one-tenth of the total.

The company also added 22,000 high-speed internet customers and 6,000 Telus TV subscribers — about the same level as the first quarter of 2017.

The company also announced Thursday that it will raise its quarterly dividend to shareholders for the second time in a year. It will pay 52.5 cents per share in July, up from 49.25 cents per share in July 2017 and 50.5 cents per share in January.

The announcements came ahead of the Telus annual meeting of shareholders in Vancouver.

The company’s stock opened at $45.67 at the Toronto Stock Exchange, down from Wednesday’s close at $45.93.

Also read: MetroCast acquisition pushes up Cogeco’s Q1 revenue, costs; profit declines


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