Telus reports Q1 profit up from year ago, raises quarterly dividend

Photo: The Canadian Press

The Telus offices are seen in Ottawa on Friday, Aug. 4, 2023.  

Telus Corp. raised its quarterly dividend as it reported its first-quarter profit rose compared with a year ago.

The company says it will pay a quarterly dividend of 41.63 cents per share, up from 40.23 cents per share.

The increased payment came as Telus said it earned $321 million in net income attributable to common shares or 21 cents per diluted share for the quarter ended March 31.

The result compared with a profit of $127 million or nine cents per diluted share in the first quarter of 2024.

On an adjusted basis, Telus says it earned 26 cents per share in its latest quarter, the same as a year earlier.

Operating revenue and other income totalled $5.06 billion, up from $4.93 billion.