Telus (TSX: T) ended the third quarter with a revenue of 3.77B $CAN compared to 3.4B $CAN as of last year. This increase brought in a profit of 447M $CAN for this quarter, an increase of 9% from 2017. The telecommunications giant also announced a 2 cents growth of its quarterly dividend that is now returned to 54.5 cents per share.
According to Telus CFO Doug French, the good results for the quarter are attributable to the company’s growth in wireless and wireline services in a context where Telus is expanding its fiber optic network in Western Canada. The increase in sales is also due to the addition of new customers to its various services. Telus added 18,000 new TV customers, 36,000 high-speed Internet subscribers and 145,000 wireless customers. This represents a 31% increase of new subscribers for all of these three services.
In terms of increasing dividends, available because of the cash flow increase, it is Telus’s fourth dividend growth program. This three-year program aims to increase dividends from 7 to 10% throughout 2019. Telus has paid 10.8B $CAN to its shareholders in the form of dividends, 27 $CAN per share, since 2004.
Telus also continues to dedicate resources to the creation of its 5G network in order to make a quick transition to the 5G spectrum when the technology becomes available. However, this service is not anticipated before 2020.
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Lapresse. (November 8, 2018). Telus hausse son profit et son dividende