Telus raises dividend, reports third-quarter profit down from year ago mark

VANCOUVER — Telus Corp. reported its third-quarter profit slipped lower compared a year ago, but the company raised its quarterly dividend.

The telecommunications firm says it will now pay a quarterly dividend of 58.25 cents per share, up from 56.25 cents per share.

The increased payment to shareholders came as Telus reported net income of $440 million or 72 cents per share for the quarter, down from $447 million or 74 cents per share a year ago.

Operating revenue totalled nearly $3.70 billion, down from $3.77 billion a year ago when the company saw $171 million in one-time equity income related to the sale of Telus Garden.