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Rogers Communications doubles dividend to C$1 a share

TORONTO
Mon Jan 7, 2008 8:34am EST
Ted Rogers, Rogers Communications Inc. President and Chief Executive Officer, speaks at the companies annual shareholders meeting in Toronto, June 29, 2005. Rogers Communications said on Monday it doubled its annual dividend to C$1.00 per share from 50 Canadian cents and offered revenue and operating profit outlook for 2008. REUTERS/Mike Cassese

TORONTO (Reuters) - Rogers Communications said on Monday it doubled its annual dividend to C$1.00 per share from 50 Canadian cents and offered revenue and operating profit outlook for 2008.

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The Canadian cable TV, wireless, phone and Internet group said the hike to its dividend followed good subscriber results and healthy demand for its services in the fourth quarter.

Rogers Communications also said its consolidated revenue in 2008 will be in a range of C$11.2 billion to C$11.5 billion, while adjusted operating profit will be about C$4 billion to C$4.2 billion.

The company is expected to have revenue of C$11.26 billion, according to Reuters Estimates.

In the fourth quarter of 2007, Rogers said total wireless retail subscriber net additions fell to 183,300 from 244,500 in the same quarter of 2006.

($1=$0.99 Canadian)

(Reporting by Frank Pingue; Editing by Bernadette Baum)
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