Telus Corp. is celebrating a remarkable start to the year as it reports a significant profit increase and unveils a boost in its quarterly dividend!

The telecom giant has announced it will pay a quarterly dividend of 41.63 cents per share, rising from 40.23 cents, reflecting its strong financial performance.

For the first quarter ending March 31, Telus recorded an impressive net income of $321 million, equating to 21 cents per diluted share, a significant leap from last year’s profit of $127 million or 9 cents per share.

Adjusted earnings remained steady at 26 cents per share, showcasing resilience amidst market fluctuations.

With total operating revenue climbing to $5.06 billion from $4.93 billion, Telus continues to demonstrate robust growth. The company also welcomed 218,000 new customers, a slight increase of 9,000 from the prior year, although it saw mixed results in mobile and internet subscriptions.

In a press release, Telus President and CEO Darren Entwistle emphasized the strength of their bundled service offerings, showcasing their advanced PureFibre and wireless broadband networks as key drivers of growth. "The dedication of our team in providing top-notch customer service has strengthened our customer loyalty across various product lines," he stated.

Moreover, Telus improved its mobile phone churn rate to 1.06%, down from 1.13% last year, highlighting effective strategies for customer retention through appealing promotions.

Despite a slight dip in average revenue per user (ARPU) to $57.13, a decrease of 3.7%, Telus noted a shift as customers opted for more budget-friendly plans, influenced by fierce market competition.

The company is also witnessing a rise in demand for unlimited data plans and cross-border offerings with the U.S. and Mexico, which promise to enhance ARPU stability while curbing roaming costs. With these developments, Telus is uniquely positioned to thrive in a competitive telecom landscape!