(Montreal) Quebecor posted a net profit of 117.1 million in the first quarter of the current fiscal year, slightly lower than the 120 million reported a year earlier.
Posted at 7:11 a.m.
During the same period, net income attributable to shareholders fell from $0.49 per basic share to $0.51.
Revenues earned by the Quebec telecommunications giant fell by 0.3% in one year, from 1.09 billion to 1.088 billion in the first quarter of 2022. Revenues from the Telecommunications sector fell from 914 million to 903.4 million , while those in the Media sector rose from 174.8 million to 181.8 million.
The President and CEO of Quebecor, Pierre Karl Péladeau, maintains that in the first quarter of the current fiscal year, the company continued to perform well in the competitive environment of Quebec.
In addition, Mr. Péladeau says that the recent decision of the Competition Bureau to oppose Rogers Communications’ offer to acquire the assets of Shaw Communications helps Quebecor to consider more favorably the expansion of its telecommunications activities. wireless by procuring alternatives for the acquisition of Shaw’s wireless assets that may be disposed of by Rogers.
On May 11, Quebecor’s Board of Directors declared a quarterly dividend of $0.30 per share on Class A and B shares to be paid on June 21.
Company quoted in this dispatch: Quebecor (TSX: QBR.B)