Cogeco Inc. reported unaudited consolidated earnings results for the first quarter ended November 30, 2011. For the quarter, the company reported operating income of CAD 78.102 million, profit before income taxes of CAD 60.435 million and profit attributable to owners of the company of CAD 18.770 million or CAD 1.11 per diluted share on revenue of CAD 387.538 million compared to operating income of CAD 75.287 million, profit before income taxes of CAD 58.425 million and profit attributable to owners of the company of CAD 16.391 million or CAD 0.97 per diluted share on revenue of CAD 341.714 million a year ago. Cash flow from operating activities was CAD 15.702 million compared to CAD 57.615 million a year ago. Acquisition of property, plant and equipment was of CAD 77.894 million compared to CAD 63.350 million a year ago. Operating income before depreciation and amortization increased by 5.6% to reach CAD 145 million when compared to the first quarter of fiscal 2011. Revenue grew by 13.4% in good part thanks to the inclusion of the new radio stations. At its January 25, 2012 meeting, the Board of Directors of COGECO declared a quarterly eligible dividend of $0.18 per share for multiple voting and subordinate voting shares, payable on February 22, 2012, to shareholders of record on February 8, 2012.