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Quebecor Inc. raised its dividend as it reported its fourth-quarter profit rose compared with a year ago.

The company says it will now pay a quarterly dividend of 27.5 cents per share, up from 20 cents.

The increased payment to shareholders came as Quebecor says it earned net income attributable to shareholders of $159.8-million or 64 cents per diluted share for the quarter ended Dec. 31.

The result compared with a profit of $145.1-million or 57 cents per diluted share a year earlier.

Revenue for the quarter rose to $1.15-billion from $1.14-billion in the fourth quarter of 2019.

The overall increase came as telecommunications revenue rose, but the company’s media and sports and entertainment divisions saw revenue decline.

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