Telus raises dividend, Q1 profit slips lower compared with a year ago

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

The company says it will now make a quarterly payment to shareholders of 52.5 cents per share, up from 49.25 cents per share.

The increase came as Telus says it earned a profit attributable to shareholders of $410 million or 69 cents per share for the quarter ended March 31, down from $414 million or 70 cents per share a year ago.

Operating revenue for the quarter totalled nearly $3.38 billion, up from $3.18 billion in the same quarter last year.

On an adjusted basis, Telus says it earned $435 million or 73 cents per share for the quarter compared with $418 million or 71 cents per share a year ago.

Analysts on average had expected a profit of 75 cents per share, according to Thomson Reuters Eikon.

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