Briefing

Buoyed in part by its wireless division, Quebecor sees rise in profits and dividend

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Quebec’s media-telecom monolith saw its 2019 revenues rise by 2.7 per cent to $4.29 billion, and its fourth-quarter revenues increase by 4.5 per cent to $1.14 billion. The gains translated into a 78 per cent jump in its quarterly dividend to 20 cents per share. Revenues from its mobile division were up about $66 million to nearly $601 million, while equipment sales were up more than 15 per cent to nearly $270 million, compared to 2018. (The Logic)

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Talking point: Despite its formidable numbers, Quebecor’s balance sheet nonetheless reflects the diminishing returns from the company’s core businesses. Both cable television and advertising revenues were down a respective 2.2 and 3.6 per cent, while subscription revenues were relatively flat.