Quebecor reports Q4 profit up from year ago, raises quarterly dividend

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MONTREAL — Quebecor Inc. raised its dividend as it reported its fourth-quarter profit rose compared with a year ago.

The company says it will now pay a quarterly dividend of 27.5 cents per share, up from 20 cents.

The increased payment to shareholders came as Quebecor says it earned net income attributable to shareholders of $159.8 million or 64 cents per diluted share for the quarter ended Dec. 31.

The result compared with a profit of $145.1 million or 57 cents per diluted share a year earlier.

Revenue for the quarter rose to $1.15 billion from $1.14 billion in the fourth quarter of 2019.

The overall increase came as telecommunications revenue rose, but the company's media and sports and entertainment divisions saw revenue decline.

This report by The Canadian Press was first published Feb. 25, 2021.

Companies in this story: (TSX:QBR.B)

The Canadian Press