Quebecor reports Q4 profit up from year ago, raises quarterly dividend

Quebecor headquarters is seen in Montreal on Monday, October 6, 2014. (THE CANADIAN PRESS/Ryan Remiorz)

Quebecor Inc. raised its dividend as it reported its fourth-quarter profit rose compared with a year ago.

The company said Thursday it will now pay a quarterly dividend of 27.5 cents per share, up from 20 cents.

The increased payment to shareholders came as Quebecor says it earned net income attributable to shareholders of $159.8 million or 64 cents per diluted share for the quarter ended Dec. 31.

The result compared with a profit of $145.1 million or 57 cents per diluted share a year earlier.

Quebecor chief executive Pierre Karl Peladeau said prudent management of the company's operations and balance sheet served it well in 2020.

"We controlled our operating costs and adjusted our capital expenditures for physical and intangible assets to maintain our industry-leading status going forward while being prepared to deal with future challenges," Peladeau said in a statement.

- This report by The Canadian Press was first published Feb. 25, 2021.

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