Telus Q1 Profit Rises; Hikes Dividend - Quick Facts

(RTTNews) - Canadian telecommunications company Telus Corp. (TU, T.TO) said that its first-quarter net income rose to C$377 million from last year's C$362 million, with earnings per share improving to C$0.60 from C$0.55 in the same quarter last year.

Operating revenues for the quarter grew 5.0% to C$2.895 billion from last year's C$2.756 billion. Consolidated revenue growth was generated by 5.6 per cent growth in wireless revenue and 4.4 per cent growth in wireline revenue. In wireless, revenue was primarily driven by subscriber growth and increased data usage from continued smartphone adoption. Wireline revenue was primarily driven by data revenue growth of 10 per cent, generated by ongoing robust TELUS TV and high-speed Internet subscriber growth, and increasing revenue per customer.

Analysts polled by Thomson Reuters expected the company to report earnings of C$0.61 per share and revenues of C$2.87 billion for the quarter. Analysts' estimates typically exclude special items.

The company said its board has declared a quarterly dividend of C$0.38 per share on the issued and outstanding Common Shares of the Company payable on July 2, 2014 to holders of record at the close of business on June 10, 2014. This second quarter dividend represents a four cent or 11.8 per cent increase from the C$0.34 quarterly dividend paid on July 2, 2013.