News

Cogeco Communications reports second-quarter profit of $62 million

MONTREAL – Cogeco Communications Inc. (TSX:CCA) is reporting a profit of $62 million for the second quarter that ended Feb. 29.

That was up from $58.9 million in the same quarter a year ago.

Revenue was $551.5 million, up from 509.4 million in the year-ago quarter.

Cogeco said the increase in revenue was mainly driven by 36.9 per cent growth in its American broadband services segment.

The company says a quarterly dividend of $0.39 per share was paid to the holders of subordinate and multiple voting shares, up from $0.35 per share paid in the second quarter of fiscal 2015.