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Rogers Announces Doubling of Dividend & Q4 Subscriber Stats

Rogers Communications has announced its “solid” subscriber growth in their wireless and cable TV businesses. They have also doubled its annual dividend to $1 a share and are planning a massive $300-million stock buyback plan.

With the 2008 forecast to increase revenues to $11.5 billion from $11.2 billion, CEO Ted Rogers says “We ended 2007 with good subscriber results, reflective of healthy demand in the markets we serve and the quality of our service offerings, but we also have much work to do in continuing to develop and reinforce our platforms to secure continued growth into the future. Our plan for 2008 strikes a healthy balance between the continued delivery of profitable growth, the return of increasing amounts of our growing free cash flow to shareholders, and the investments that will help assure such growth continues well into the future.”

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