MONTREAL — Quebecor Inc. raised its dividend as it reported its fourth-quarter profit grew compared with a year ago.
The company says it will now pay a quarterly dividend of 20 cents per share, up from 11.25 cents.
The increased payment to shareholders came as Quebecor reported net income attributable to shareholders of $145.1 million or 57 cents per share for its fourth quarter, up from $117.5 million or 46 cents per share in the same period in 2018.
Revenue for the quarter ended Dec. 31 totalled nearly $1.14 billion, up from nearly $1.09 billion in the same period a year earlier.
Quebecor says its adjusted income from continuing operations amounted to $159.6 million or 63 cents per share in the fourth quarter of 2019, compared with $132.9 million or 52 cents per share in the final three months of 2018.
Analysts on average had expected 60 cents per share of adjusted earnings and $1.1 billion of revenue, according to financial markets data firm Refinitiv.
Quebecor owns of one of Canada’s largest broadcasting and entertainment businesses, largely focused on Quebec’s francophone market, as well as the Videotron wireless, internet and cable networks.
This report by The Canadian Press was first published March 12, 2020.
Companies in this story: (TSX:QBR.B)
The Canadian Press