By Canadian Press

Telus reports Q1 profit down from year ago, raises quarterly dividend

May 9, 2024 | 5:18 AM

VANCOUVER — Telus Corp. raised its quarterly dividend as it reported its first-quarter profit fell compared with a year ago.

The telecommunications company says it will now make a quarterly payment to shareholders of 38.91 cents per share, up from its previous rate of 37.61 cents per share.

The increased payment to shareholders came as Telus reported net income attributable to common shares of $127 million or nine cents per share.

The result was down from a profit of $217 million or 15 cents per share in the same quarter last year.

Operating revenues and other income for the quarter totalled $4.93 billion, down from $4.96 billion in the first quarter of 2023.

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On an adjusted basis, Telus says it earned 26 cents per share in its latest quarter, down from an adjusted profit of 27 cents per share in the same quarter last year.

This report by The Canadian Press was first published May 9, 2024.

Companies in this story: (TSX:T)

The Canadian Press