07:28 AM EST, 11/08/2024 (MT Newswires) -- TELUS Corp. ( TU ) , which rose 11% in U.S. premarket trading, reported an increase in adjusted profit on slightly higher revenue for its third quarter. The company also announced a 7% dividend increase.

Adjusted profit, which excludes most one-time items, rose 11% to $413 million, or $0.28 per basic share, from $373 million or $0.25 per basic share.

Total revenue was 1.8% higher at $5.1 billion.

The quarterly dividend, payable on Jan. 2, got a boost to $0.4023.

TELUS ( TU ) also updated its 2024 target for TTech operating revenue growth updated to slightly below the lower end of the original range to 2% to 4%.

TELUS ( TU ) is up US$1.67, to US$16.84 in U.S. premarket trade.