Thomson Reuters Corp. raised its dividend as it reported a fourth-quarter profit of US$282 million compared with a loss of US$175 million in the same quarter a year earlier.

The company, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of 49 cents per share, up from 44.5 cents per share.

The increased payment to shareholders came as Thomson Reuters says its profit amounted to 59 cents per diluted share for the quarter ended Dec. 31, compared with loss of 36 cents per diluted share in the last three months of 2021.

Revenue totalled nearly US$1.8 billion, up from US$1.7 billion in the same quarter a year earlier.

On an adjusted basis, Thomson Reuters says it earned 73 cents per share in its latest quarter, up from an adjusted profit of 43 cents per share a year earlier.

In its outlook for 2023, the company says it now expects total revenue growth between 4.5 and 5.0 per cent compared with earlier expectations for between 5.5 and 6.0 per cent for the year.

This report by The Canadian Press was first published Feb. 9, 2023.