Quebecor Inc. is raising its quarterly dividend by 29 per cent, saying it’s very optimistic about future growth.

The Montreal-based parent of Videotron says all of its major business segments grew in the first quarter, including its remaining media operations.

Total revenue grew five per cent to $975.4-million from $929-million, anchored by a $38.2-million increase from telecom.

Quebecor’s net income for the quarter more than doubled to $69.9-million from $29.4-million, while its adjusted income rose to $67.7-million from $41.4-million.

The profit amounted to 57 cents per share, or 55 cents after adjustments – up from 24 cents net income and 34 cents adjusted earnings in the first quarter of 2015.

Quebecor says its quarterly dividend will rise to 4.5 cents per share, from 3.5 cents per share, payable June 21.

“We remain very upbeat about the corporation’s ability to generate growing cash flows,” Quebecor chief financial officer Jean-Francois Pruneau says.