UPDATE 1-Telus Q1 earnings top estimates, raises div

* Reaffirms 2010 outlook

* Shares up 2 pct

May 5 (BestGrowthStock) – Telus Corp (T.TO: ) reported a
first-quarter profit (Read more your timing to make a profit.) that beat market expectations, helped by
cost controls and growth in postpaid wireless connections, and
raised its quarterly dividend.

The company, one of Canada’s big three telecoms companies,
reaffirmed its 2010 outlook set in mid-December 2009.
[nN15218075]

Telus said it earned C$268 million ($261.7 million), or 84
Canadian cents a basic share, in the first quarter. That
compared with C$322 million, or C$1.01 a basic share, in the
same period a year ago.

Revenue at the Burnaby, British Columbia-based company was
flat at C$2.38 billion.

Higher value postpaid net additions increased 48 percent to
65,000, while prepaid subscribers decreased 14,000, the company
said.

Total net subscriber additions rose more than 6 percent to
51,000 over the same period a year ago.

Analysts on average had expected earnings of 71 Canadian
cents a share, on revenue of C$2.40 billion, according to
Thomson Reuters I/B/E/S.

The company, which has 6.6 million wireless subscribers,
raised its quarterly dividend by 5 percent to 50 Canadian cents
per share.

Shares in Telus were up 89 Canadian cents at C$38.42 on the
Toronto Stock Exchange on Wednesday. The stock is up 11 percent
year to date and 28 percent over the last year.

Investment

($1=1.024 Canadian Dollar)
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by
Anne Pallivathuckal)

UPDATE 1-Telus Q1 earnings top estimates, raises div