Glentel raises dividend by eight per cent to 9.75 cents per share

Published on January 6, 2010; Published on February 24, 2010
The Canadian Press ~ The News

Topics :: Glentel Inc. , TSX , Apple , BURNABY , Canada , United States

BURNABY, B.C. - Glentel Inc. (TSX:GLN) is raising its quarterly dividend by about eight per cent to 9.75 cents per share, the telecommunications company said Tuesday.
The new dividend is payable on Jan. 29 to shareholders of record on Jan. 15.
In its latest quarterly financial report, Glentel said it earned $5.8 million or 53 cents a share. That's down from the $6.6 million or 61 cents a share it generated in the same prior-year period, when Apple's iPhone was launched.
Glentel's third-quarter revenues fell to $81.9 million from $90.6 million.
Glentel provides telecommunications services in Canada and the United States, with 265 retail outlets across Canada selling mobile phones and other products and services.
The company operates its business under the Glentel Wireless, WirelessWave, The Telephone Booth and Wireless etc. brands.
Glentel shares gained nine cents to $13.31 in Tuesday trading on the Toronto Stock Exchange.

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