Rogers Revenue Rises For Q3
October 31, 2006 at 6:22 AM (PT)
CANADA's ROGERS COMMUNICATIONS overall third-quarter operating revenue rose 14.7% to C$2.35 billion, with net income was up from C$48.9 to C$154 million (C17 to C49 cents/share). The company's media division, which includes radio, saw a 12.2% jump in revenue to C$319.3 million and a 17.1% rise in operating profit to C$39 million, credited to higher revenues from publishing and radio and at ROGERS SPORTSNET, which benefited from TORONTO BLUE JAYS baseball and WORLD CUP soccer. Also credited for the increase were higher ticket sales for the BLUE JAYS and the addition of new OMNI TV stations in MANITOBA and BRITISH COLUMBIA.
The company has announced a proposed two-for-one stock split that will be voted on by shareholders on DECEMBER 15; if approved, the split will be effective on JANUARY 5 for shareholders of record as of DECEMBER 29. ROGERS also increased the annual dividend from C$0.15 to C$0.32 per Class A Voting and Class B Non-Voting pre-split share, while also announcing the company's first quarterly dividend of C8 cents/pre-split share, payable JANUARY 2 to shareholders of record as of DECEMBER 20.