Rogers Revenues Rise In Fourth Quarter 2014
January 30, 2015 at 3:54 AM (PT)
ROGERS COMMUNICATIONS INC. fourth quarter 2014 operating revenue rose 4% to C$3.366 billion, spurred by 20% growth in the Media division and 3% growth in Wireless, with net income off 7% to C$297 million (58 cents/basic share, 57 cents/diluted share) and consolidated adjusted operating profit up 6% to C$1.233 million. The company does not separately report radio results, although it noted that radio revenues grew along with the SPORTSNET cable sports network, while broadcast TV and print saw "continued softness."
President/CEO GUY LAURENCE said, "We saw a healthy acceleration in revenue growth and adjusted operating profit along with improvement in Wireless revenue and ARPU. We continued our shift from volume to value this quarter, and as expected we saw vibrations in both our Wireless and Cable subscriber metrics as we made certain commercial policy changes, consistent with our longer-term strategic goals. We remain committed to the strategy of providing our customers with added value while making the necessary adjustments to remain competitive in the market. ROGERS 3.0 is now up and running and we delivered a number of key commercial propositions in the quarter. For the full year, we delivered on our financial guidance and entered 2015 with a 5% dividend increase which reflects our financial strength and confidence in the future."
The dividend mentioned by LAURENCE has risen to C$1.92 per Class A Voting and Class B Non-Voting share on an annualized basis and 48 cents/share per quarter. The next dividend will be payable APRIL 1st to shareholders of record as of MARCH 13th.