Telus announced on Friday it donated a record amount to charities in 2022, at $125 million, to go with 1.44 million in volunteer hours by employees.
The telecom said the record annual contribution is equivalent to 5% in pre-tax profit, and was made despite being a time when corporate giving has been declining due to inflation and uncertain economic times.
“Our TELUS team is deeply committed to driving positive social change in the global communities where we operate and making the future friendly for people around the world,” said Darren Entwistle, President and CEO, TELUS, in an issued statement.
Telus highlighted in the past three years, it has increased its donations, noting it gave over $30 million last year to create a bursary fund for underprivileged Canadian youth for post-secondary education. The company also gave $6.6 million in community giving in 2022 towards humanitarian efforts worldwide.
Telus reported its Q4 earnings report yesterday, seeing $5.1 billion in revenue and net income of $265 million, down 60% year-over-year.
