By Canadian Press

Telus raises dividend, announces deal to buy Lionbridge AI for $1.2 billion

Nov 6, 2020 | 5:23 AM

VANCOUVER — Telus Corp. raised its dividend as it reported its third-quarter revenue grew compared with a year ago, but its profit fell.

The company says it will now pay a quarterly dividend of 31.12 cents per share, up from  29.125 cents per share.

Telus also announced a deal to buy Lionbridge AI, a provider of crowd-based training data used in the development of AI algorithms, for $1.2 billion.

The announcements came as Telus says its net income attributable to common shares fell to $307 million or 24 cents per share for the quarter ended Sept. 20 compared with a profit of $433 million or 36 cents per share a year ago.

Operating revenue t

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otalled $3.98 billion, up from $3.70 billion in the same quarter last year.

On an adjusted basis, Telus says it earned $356 million or 28 cents per share for the quarter, down from an adjusted profit of $458 million or 39 cents per share a year ago.This report by The Canadian Press was first published Nov. 6, 2020.

Companies in this story: (TSX:T)

The Canadian Press