CenturyLink Inc. reported four quarter net income of $233 million, up from $109 million for the same year-ago period.

Full-year net income was $777 million versus $573 million in 2011. Full-year 2012 operating revenues of $18.4 billion, however, declined 1.7 percent from operating revenues of $18.7 billion for 2011.

“Our investments in broadband, Prism TV, fiber-to-the-tower and data hosting continue to provide a broad base of organic revenue growth opportunities and helped drive pro forma full-year operating revenue improvement to a 1.7 percent decline in 2012 compared to a 3.8 percent decline a year ago," CEO and President Glen F. Post said in a news release.

The company’s board has initiated two capital plans. It authorized the repurchase of $2 billion of CenturyLink’s outstanding common stock and indicated its intention to revise the company's quarterly dividend rate to 54 cents from 72.5 cents per share.

• Cooper selected to succeed Hagen at Riverwood - 5/23/2013
• Ojard announces retirement - 5/23/2013
• Man dies in Superior industrial accident - 5/22/2013
• Radisson plans June 6 reopening - 5/22/2013
• Ground broken for new Superior SuperOne store - 5/21/2013