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May 6, 2022

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

Stan Wong discusses Telus Corp

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Telus Corp. reports that its first-quarter profit increased compared with a year ago as its revenue climbed more than six per cent.

The telecom company has also raised its quarterly dividend to 33.86 cents per share, up 7.1 per cent from 31.62 cents.

Telus says its net income attributable to common shares totalled $385 million or 28 cents per share for the quarter ended March 31, compared with $331 million or 25 cents per share a year ago.

Operating revenues and other income rose to $4.28 billion compared with $4.02 billion in the first quarter of 2021.

The company says it added a record 148,000 new customers in the quarter including 46,000 mobile phones, 30,000 internet additions and 26,000 security additions.

On an adjusted basis, Telus says it earned 30 cents per share in its most recent quarter compared with 27 cents per share a year ago.