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Highlights:
- When the markets opened at 9:30 AM EST, TELUS stock jumped 0.4 per cent and traded at C$ 31.17 per share.
- TELUS Corporation declared a dividend of C$ 0.3274 per unit, payable to shareholders in April this year.
- In the fourth quarter of 2021, the company recorded total mobile net additions of 193,000.
TELUS Corporation (TSX:T) has declared financial results for the fourth quarter of fiscal 2021 and said its net income is more than double compared to the fourth quarter of 2020.
The company said in a statement that robust financial results were achieved due to the sale of its financial solutions business.
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When the markets opened at 9:30 AM EST, TELUS stock jumped 0.4 per cent and was trading at C$ 31.17 per share at the time of writing.
Highlights of TELUS' (TSX:T) financial results:
In the fourth quarter of the previous year, TELUS' net income was C$ 663 million, reflecting a 144.6 per cent year-over-year (YoY) increase. Meanwhile, the operating revenues and other income surged 20 per cent YoY to C$ 4,872 million in Q4 2021.
Notably, the basic earnings per share (EPS) were C$ 0.47 in Q4 2021, up from C$ 0.2. This represented a significant increase of 135 per cent YoY.
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TELUS Corporation declared a dividend of C$ 0.3274 per unit, payable to shareholders in April this year. In Q4 2021, the dividend declared was up 5.2 per cent compared to the same period of 2020.
The company's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased to 1,517 million in Q4 2021 from C$ 1,409 million in Q4 2020.
Bottom line
In the fourth quarter of 2021, the company recorded total mobile net additions of 193,000, representing an increase of 25,000 from Q4 2020.
TELUS' fourth quarter was historic in terms of robust wireline net additions. The additions were at 79,000, a fourth-quarter record in terms of wireline customer growth.
The company expects that the operating revenue and adjusted EBITDA for 2022 could increase between eight to ten per cent and achieve a free cash flow between C$ 1 to C$ 1.2 billion.
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