Telus Corp. said continued strong growth in its wireless communications and data business helped it post a big jump in its revenues and earnings in the third quarter
The Vancouver-based firm said it made $319.6 million (94 cents a share), up from $190.1 million (53 cents a share) in the same quarter a year earlier.
The company's operating revenues rose seven per cent to $2.21 billion from $2.06 billion year over year.
Telus president and CEO Darren Entwistle said that for the first time, the company generated more than 50 per cent of its operating profits from its wireless operations.
"We were also pleased to experience resiliency in our wireline segment as a result of strong data revenues, which offset increased competitive pressures affecting local and long-distance revenues," he said in a release.
Telus also reported that its board of directors declared a quarterly dividend of 37.5 cents a share on its common and non-voting stock, an increase of 36 per cent from the previous quarterly payout.
On Nov. 1, Telus said it was reviewing its plan to convert to an income trust after the federal government surprised the market when it announced new taxes on trusts.
The company said Friday it will continue with a share buy-back program and higher dividends if it doesn't go through with the trust conversion.
Shares of Telus fell 35 cents to close at $57.38 on the TSX.
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