TORONTO, Feb 22 (Reuters) - Rogers Communications , Canada’s largest wireless telecommunication company, posted a 2.8 percent rise in its fourth-quarter operating profit on Wednesday, driven by growth in both its cable and wireless businesses.
Its board has authorized an 11 percent increase in its quarterly dividend payout and a C$1 billion share buyback program that will allow the company to repurchase about 10 percent of its Class B outstanding shares.
Rogers said made an adjusted net profit of C$372 million, or 70 Canadian cents a share, on revenue of C$3.18 billion. A year ago, it earned C$338 million, or 60 Canadian cents a share, on revenue of C$3.14 billion.
The company said its adjusted operating profit rose to C$1.09 billion, up from C$1.06 billion, a year earlier.
Rogers’ new quarterly dividend payout will be 39.5 Canadian cents per share up from 35.5 Canadian cents a share.