07:37 AM EST, 11/07/2025 (MT Newswires) -- Telus ( TU ) said Friday that third-quarter adjusted earnings fell as operating revenue stayed flat. The company also raised its dividend by 4%, to $0.42.

Adjusted net earnings fell 10% to $370 million, or $0.24 per basic share, from $413 million, or $0.28 per basic share, in the prior year period. Analysts surveyed by FactSet had expected $0.26 per share.

Operating revenue stayed flat at $5.1 billion, and was slightly below the $5.16 billion forecast.

Telus ( TU ) recorded 288,000 net customer additions during the quarter, down 59,000 over the same period last year due to slowing immigration, competitive pressures and changing customer preferences.

Its fiscal 2025 target for TTech operating revenues, including health, is expected to be at the lower end of the original target range of 2% to 4%. Telus' ( TU ) annual targets for TTech adjusted EBITDA, including the health segment, and targets for capital expenditures and free cash flow, remain unchanged.

Telus ( TU ) closed its transaction with La Caisse in September, and now has a majority stake in Terrion, which has over 3,000 wireless sites across the country. The team has begun construction of its first multi-carrier tower in Nanaimo, British Columbia, with more planned in the months to come, said Telus ( TU ) chief executive Darren Entwistle.

Entwistle noted that Telus' ( TU ) acquisition of Telus Digital will generate $150 million in annual cash synergies through operational efficiencies.

The company will pay its higher quarterly dividend of $0.42 per share, on Jan. 2.