UPDATE 2-Shaw profit up on higher rates, raises dividend

Wed Jan 9, 2013 11:19am EST
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* Profit C$0.49/share vs C$0.43 a year earlier

* Revenue up 3.1 percent at C$1.32 billion

* Video subscribers fall 23,912 in quarter

* Raises annual dividend rate 5 percent

Jan 9 (Reuters) - Canada's Shaw Communications Inc said on Wednesday that quarterly profit and revenue rose as higher cable and satellite rates offset a net loss of video cable and satellite television subscribers.

It also said it would boost its dividend by 5 percent.

Operating income before amortization jumped 9.2 percent in the media division in the fiscal first quarter that ended Nov. 30 as advertising and subscriber revenue rose.

Shaw, the dominant cable provider in Western Canada, also boosted revenue and operating income before amortization in its bigger cable and satellite divisions.

From late March, the company will pay a monthly dividend equivalent to an annual C$1.02 ($1.03) per Class B share, up from 97 Canadian cents.   Continued...