Rogers Communications Sees Higher Profit, Revenue In 2016; Declares Dividend

(RTTNews) - While reporting its financial results for the fourth quarter today, Canadian communications and media company Rogers Communications Inc (RCI, RCI_A.TO, RCI_B.TO) provided its financial outlook for fiscal 2016.

For fiscal 2016, the company forecasts operating revenue to increase 1 percent to 3 percent and adjusted operating profit to also increase 1 to 3 percent from the prior year.

On average, analysts polled by Thomson Reuters expect earnings per share of C$3.01 per share for the year on revenues of C$13.79 billion. Analysts' estimates typically exclude special items.

The company expects continued growth in operating revenue and adjusted operating profit as well as a declining capital expenditure profile to drive higher free cash flow in fiscal 2016.

Further, Rogers Communications said its board of directors declared a quarterly dividend totalling 48 Canadian cents per share on each of its outstanding Class B Non-Voting shares and Class A Voting shares.

The quarterly dividend will be paid on April 1, 2016 to shareholders of record on March 13, 2016.