Telus reports $551M Q3 profit, up from $358M a year ago, raises quarterly dividend

VANCOUVER — Telus Corp. raised its dividend as it reported a profit of $551 million in its latest quarter, up from $358 million in the same quarter last year.

The telecommunications company says it will now pay a quarterly dividend of 35.11 cents per share, up from 32.74 cents per share.

Telus says its profit amounted to 37 cents per share for the quarter ended Sept. 30, up from 25 cents per share a year ago.

Operating revenue and other income rose to $4.67 billion compared with $4.25 billion in the same quarter last year.

On an adjusted basis, Telus says it earned 34 cents per share in its latest quarter, up from 29 cents per share last year.

Analysts on average had expected an adjusted profit of 32 cents per share, according to estimates compiled by financial markets data firm Refinitiv.

"Our robust performance reflects the chemistry of our globally leading broadband networks and customer-centric culture, which enabled our strongest quarter on record, with total customer net additions of 347,000, up more than 8 per cent, year-over-year," Darren Entwistle, Telus president and CEO, said in a statement.

This report by The Canadian Press was first published Nov. 4, 2022.

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The Canadian Press