After spin-off
"It's also perhaps maybe helpful to the Street, that you can draw inference from what's happened with
"Whilst there are some differences between TI and health and (agriculture and security), there's a tremendous number of similarities," he said, later reiterating: "I think you can draw inference from what's transpired at TI" in terms of what it portends for our emerging growth businesses."
The telecom provider has been investing in new revenue streams through enterprise technology, as the industry races to invest and compete over fiber interest and 5G phone service.
In addition to its remaining stake in customer-service company
"I would really like to complete the fibre and the 5G journey," said Entwistle, when asked about his succession plans. "That would let me rest easy, because with that broadband infrastructure, in place at a near-ubiquitous level, it really does institutionalize our competitive advantage at Telus."
Telus executives also told analysts that its dividend program was targeting growth of seven per cent to 10 per cent through 2022, even as the company reported lower fourth-quarter profit compared with a year earlier.
The announcement comes amid increased media scrutiny on companies' dividends as the government has also offered wage subsidies and other aid during the COVID-19 pandemic. Telus said on Thursday it has been trying to avoid job cuts by having customer support staff move to virtual installation helplines.
The telecommunications company said its net income attributable to common shares totalled
Operating revenues and other income totalled
The gains were partly offset by the loss of 9,000 residential voice customers. The company also said its profit margins in its TV business were slimmer amid higher content costs, and that fewer customers were shopping in Telus stores with COVID-19 limiting retailers.
Customers were also racking up fewer roaming fees with COVID-19 limiting travel, and mobile phone users were using less data as more people spent time on their home wi-fi connections, Telus said. These new pandemic habits came as more and more people are also signing up for unlimited data plans, executives noted.
Executives also said that as the internet-of-things requires more devices to connect to the internet, those devices will generate less in the way of fees. On the upside, they will have better profit margins since refrigerators and home security "smart" devices aren't subsidized like smartphones.
On an adjusted basis, Telus says it earned
In its outlook for 2021, Telus said it expects to increase its revenue and other income by eight to 10 per cent, while adjusted earnings before interest, taxes, depreciation and amortization are expected to rise six to eight per cent. Capital expenditures for 2021 are expected to be
Chief financial officer
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