February 11, 2010 / 12:26 PM / 8 years ago

UPDATE 1-Yellow Pages Q4 profit meets Street

* Q4 EPS C$0.25 vs est C$0.25

* Rev falls about 5 pct to C$405.7 mln

* Says to complete conversion to corp by December

Feb 11 (Reuters) - Media and marketing company Yellow Pages Income Fund YLO_u.TO posted fourth-quarter earnings that were in line with Wall Street expectations, and said its conversion to a corporation would take place by December.

The company also said it would continue its annual dividend of 80 Canadian cents per unit until Dec. 31, and initially pay out 65 Canadian cents per share from January 2011 post conversion. Net income for the quarter ended Dec. 31 was C$124.6 million ($117.8 million), or 25 Canadian cents per unit, compared with C$100.5 million, or 19 Canadian cents per unit, a year ago.

Revenue fell about 5 percent to C$405.7 million.

Analysts on average were expecting the company to earn 25 Canadian cents on revenue of C$407.6 million, according to Thomson Reuters I/B/E/S.

Cash flow from operating activities rose nearly 12 percent to C$198.7 million.

Units of the Verdun, Quebec-based company closed at C$5.18 Wednesday on the Toronto Stock Exchange. ($1=1.058 Canadian Dollar) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Maju Samuel)

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