(Vancouver) Telus increased its quarterly dividend after announcing that its first quarter profit fell compared to last year.
The telecommunications company announced that it will now pay shareholders a quarterly payment of 38.91 cents per share, up from its previous rate of 37.61 cents per share.
The increased payment to shareholders comes as Telus reported net income attributable to common shares of $127 million, or nine cents per share.
The result was down from profit of 217 million, or 15 cents per share, in the same quarter last year.
Operating and other income for the quarter totaled 4.93 billion, down from 4.96 billion for the same period in 2023.
On an adjusted basis, Telus says it earned 26 cents per share in its most recent quarter, down from an adjusted profit of 27 cents per share at the same time last year.