Rogers Revenues Rise In Q4, Dividend Going Up
February 17, 2010 at 11:22 AM (PT)
Canadian media giant ROGERS COMMUNICATIONS fourth-quarter operating revenue rose 4% to C$3.06 billion, resulting in an operating profit up 16% to C$1.05 billion. Net profit rose from a loss of 22 cents/share in fourth quarter 2008 to a gain of 51 cents/share this quarter.
The rise came from a 5% revenue increase at the company's wireless division, which represents over 56% of ROGERS' revenue. The media division, which includes radio, saw revenues flat at C$393 million, but profits up 13% to C$52 million.
The company also announced that it will increase its dividend by 10% to C$1.28 per Class A voting share on an annualized basis and will buy back up to C$1.5 billion's worth of its shares.