By Canadian Press

Telus reports first-quarter profit and revenue up, raises dividend

May 9, 2019 | 4:45 AM

VANCOUVER — Telus Corp. raised its dividend as it reported a first-quarter profit of $437 million, up from $412 million a year ago.

The telecommunications company will now pay a quarterly dividend of 56.25 cents per share, up from 54.5 cents per share.

Telus says its profit for the quarter amounted to 71 cents per share for the quarter ended March 31, up from 69 cents per share a year ago.

Operating revenue totalled nearly $3.51 billion, up from nearly $3.38 billion in the first quarter of 2018, helped by higher wireless and wireline data services revenue growth.

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On an adjusted basis, Telus says it earned 75 cents per share for the quarter, up from 73 cents per share a year ago.

Analysts on average had expected a profit of 75 cents per share and $3.51 billion in revenue, according to Thomson Reuters Eikon.

Companies in this story: (TSX:T)

The Canadian Press