MONTREAL - Cogeco Inc. reported a profit attributable to shareholders of $29.8 million, down 13.7 per cent from $34.5 million a year earlier, as it begins a three-year transformation program in its 2025 fiscal year.Â
Revenues were $765 million, down from $776.2 million during the same quarter last year.
Cogeco's cable and internet subsidiary, Cogeco Communications Inc., says profit attributable to shareholders was $100.6 million, up 12.4 per cent from $89.5 million during the same quarter last year.Â
Revenues for Cogeco Communications were $738.7 million, down from $747.7 million a year earlier.Â
President and CEO Frederic Perron says high-speed Internet subscriber growth remained strong in the first quarter, while U.S. subscriber metrics are improving and the company prepares for an upcoming ºÃÉ«tv wireless launch.Â
Cogeco declared a dividend of $0.922 per share for shareholders of both the parent company and subsidiary, unchanged from its previous quarter but up eight per cent compared with a year ago.
This report by ºÃÉ«tvwas first published Jan. 13, 2025.
Companies in this story: (TSX:CGO, TSX:CCA)
Note to readers:This is a corrected story. A previous version stated Cogeco announced dividend increases by eight per cent for shareholders of both the company and its subsidiary. In fact, its dividend represents an eight per cent increase compared with a year ago.
