Canadian media holding company Quebecor Inc.(QBR_A.TO, QBR_MV_A.TO) Wednesday reported a decline in net income for the first quarter, reflecting lower revenues and higher income taxes.
For the three-month period, the firm reported net income attributable to shareholders of C$35.6 million or C$0.49 per share, compared with C$71.4 million or C$1.12 per share during the same period last year.
Adjusted income from continuing operations was C$33.1 million in the first quarter of 2013 or C$0.53 per basic share compared with C$37.8 million or C$0.60 per basic share in the first quarter last year.
The firm generated revenues of C$1052.1 million, compared with C$1061.6 million during the corresponding quarter last year.
On May 7, Quebecor declared a quarterly dividend of C$0.05 per share on Class A Multiple Voting Shares and Class B Subordinate Voting Shares, payable on June 18 to shareholders of record at the close of business on May 24.
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