Revenue and earnings growth generated by continued leading wireless
VANCOUVER, May 9, 2012 /CNW/ - TELUS Corporation's first quarter 2012
revenue was $2.6 billion, an increase of four per cent over last year.
The increase was generated by nearly six per cent growth in wireless
revenue and two per cent growth in wireline revenue, both driven by
strong data growth.
In the wireless segment, the company added 63,000 postpaid wireless
customers in the first quarter as strong smartphone adoption resulted
in wireless data revenue growth of 36 per cent. Notably, TELUS reported
industry leading wireless average revenue per unit (ARPU) and
subscriber churn metrics. ARPU increased by 1.7 per cent - the sixth
consecutive quarter of year-over-year growth. Blended monthly
subscriber churn decreased 15 basis points (bps) year-over-year to 1.55
per cent, reflecting lower churn on smartphones, the success of
retention investments and a customer friendly marketing and service
orientation. These industry leading metrics contributed to strong 13
per cent growth in wireless EBITDA (earnings before interest, tax, and
In the wireline segment, TELUS added 44,000 TV customers this quarter to
bring its total subscriber base to just over 550,000 - up 54 per cent
from year ago. When combined with attracting new high-speed Internet
subscribers, the company generated wireline data revenue growth of 13
per cent. However, due to aggressive competitive activity and wireless
substitution, access lines losses accelerated and underlying (adjusted)
wireline EBITDA was down seven per cent.
Consolidated first quarter EBITDA was up more than two per cent from a
year ago and for the first time, surpassed $1.0 billion. Adjusted
EBITDA (excluding items detailed in footnote 2) was up more than 4 per
Net income and earnings per share (EPS) for the first quarter were
$348 million and $1.07, respectively, representing year-over-year
growth of approximately six per cent each.
Free cash flow more than doubled to $358 million this quarter - up by
$196 million over the same period a year ago. This was due primarily to
lower discretionary contributions made to defined benefit pension
plans, lower restructuring payments and higher adjusted EBITDA.
C$ and in millions, except per share amounts
3 months ended March 31
Operating expenses before depreciation & amortization
Earnings per share (EPS), basic(3)(4)
Dividends per share declared for first quarter
Free cash flow(5)
Total customer connections(6)
Earnings before interest, taxes, depreciation and amortization (EBITDA).
See Section 11.1 in the 2012 first quarter Management's discussion and
Adjusted EBITDA for the first quarter of 2012 excludes a $1 million
equity loss for the residential component of the TELUS Garden real
estate joint venture, and consistent with methodology last year,
adjusted EBITDA for the first quarter of 2011 excludes a $16 million
non-cash gain on Transactel (Barbados) Inc.
Net income and EPS for the first quarter of 2012 included favourable
income tax-related adjustments of approximately $10 million or 3 cents
Net income and EPS for the first quarter of 2011 includes the after-tax
Transactel gain of $12 million or 4 cents per share.
For definition, see Section 11.2 in 2012 first quarter Management's
discussion and analysis.
Sum of wireless subscribers, network access lines, total Internet
subscribers, and TELUS TV subscribers (IPTV and satellite TV).
Darren Entwistle, TELUS President and CEO said, "TELUS continues to
build upon our company's operational momentum as we delivered the most
TV, high speed Internet and wireless client net additions, the highest
wireless ARPU and the lowest wireless churn amongst our Canadian telco
and cableco peer group. This led to strong results, with wireline data
revenue growth of 13 per cent and wireless data revenue growth of 36
per cent. Consolidated financial results were driven by outstanding
wireless revenue and margin enhancement. This performance is the direct
result of TELUS' investment in our network technology and the
commitment to the customer experience displayed by our dedicated team
Mr. Entwistle added, "TELUS' operational execution and 121 per cent
increase in free cash flow is enabling the continued realization of my
personal three year goals for EPS and free cash flow growth to 2013,
and TELUS' dividend growth model to 2013. In this regard, we are
delivering to shareholders a 10.9 per cent higher dividend compared to
a year ago."
Robert McFarlane, TELUS Executive Vice-President and CFO, said "the
first quarter of 2012 represents a better than expected beginning to
the year with strong free cash flow generation supporting an even
stronger balance sheet. Despite industry leading wireline revenue
growth backed by strong operational results from Optik-TV and high
speed Internet, profitability for this segment declined but was
consistent with internal plans. We continue to be relentless in
identifying opportunities for appropriate cost reduction and based on
the increased initiatives in the pipeline, we now expect 2012
restructuring expenses to double to $50 million from the previous
estimate. Despite this change, the full year 2012 wireline
profitability target range remains achievable and accordingly, we
re-affirm our existing full year consolidated annual targets."
The 2012 consolidated and segmented annual targets have been reaffirmed.
See section 9 of the first quarter 2012 MD&A.
This news release contains statements about expected future events and
financial and operating performance of TELUS that are forward-looking.
By their nature, forward-looking statements require the Company to make
assumptions and predictions and are subject to inherent risks and
uncertainties. There is significant risk that the forward-looking
statements will not prove to be accurate. Readers are cautioned not to
place undue reliance on forward-looking statements as a number of
factors could cause actual future performance and events to differ
materially from that expressed in the forward-looking statements.
Accordingly this news release is subject to the disclaimer and
qualified by the assumptions (including assumptions for 2012 annual
targets), qualifications and risk factors (including TELUS' proposed share consolidation and foreign ownership
levels, semi-annual dividend increases to 2013 and CEO three year goals
for EPS and free cash flow growth to 2013 excluding spectrum costs)referred to in the 2012 Information Circular, Management's discussion and analysis (MD&A) in the 2011 annual report,
and in the 2012 first quarter report. Except as required by law, TELUS disclaims any intention or obligation
to update or revise forward-looking statements, and reserves the right
to change, at any time at its sole discretion, its current practice of
updating annual targets and guidance.
External wireless revenues increased by $75 million or 5.7 per cent to
$1.38 billion in the first quarter of 2012, compared to the same period
a year ago. This growth was driven by a larger subscriber base and
higher ARPU due to increased use of wireless data services.
Data revenue increased by $132 million or 36 per cent to $498 million
this quarter and now represents 39 per cent of network revenue, up from
30 per cent one year ago. Data ARPU increased by $5.12 or 29 per cent
to $22.83. These increases were due to continued strong adoption of
smartphones and related data plans, increased use of mobile Internet
devices and tablets, increased revenues from pay-per-use text
messaging, as well as higher roaming volume.
Blended ARPU increased by $0.98 or 1.7 per cent to $58.87 as 29 per cent
data ARPU growth more than offset a 10 per cent voice ARPU decline.
This is the sixth consecutive quarter of year-over-year blended ARPU
Wireless net additions of 22,000 were lower by 31 per cent
year-over-year and included the addition of 63,000 postpaid subscribers
and a loss of 41,000 lower-ARPU prepaid subscribers. Postpaid net
additions were up 21 per cent from a year ago. Excluding deactivations
from the loss of a low-ARPU federal service contract to a competitor
from the current and year-ago quarter, postpaid net additions were
unchanged year-over-year at 68,000.
Total wireless subscribers are up 5.1 per cent from a year ago to 7.36
million and the proportion of high value postpaid subscribers has
increased 1.9 points to 84.1 per cent. Smartphone subscribers now
represent 56 per cent of the total postpaid subscriber base of 6.19
million as compared to 38 per cent a year ago.
Cost of retention as a percentage of network revenue decreased by 1.5
points to 10.7 per cent, primarily due to lower retention volumes
resulting from retention investments in prior periods.
Cost of acquisition per gross addition increased year-over-year by 4 per
cent to $362, reflecting higher per-unit subsidies from increased sales
of more expensive, but higher ARPU and lower churn, smartphones and
Blended monthly subscriber churn decreased 15 basis points (bps)
year-over-year to 1.55 per cent, reflecting lower churn on smartphones,
the success of retention investments and a customer friendly marketing
and service orientation. The loss of a federal government contract
contributed 3 bps to churn this quarter, compared to 8 bps a year ago.
Wireless EBITDA of $622 million increased $71 million or 13 per cent due
to strong revenue growth and effective cost control. EBITDA margin of
44.7 per cent expanded by 290 bps compared to last year.
Simple cash flow (EBITDA less capital expenditures) slightly decreased
by $4 million to $471 million in the quarter as EBITDA growth was
offset by increased capital spending related to the launch and
expansion of TELUS' new 4G LTE network.
External wireline revenues increased by $25 million or two per cent to
$1.25 billion in the first quarter of 2012, when compared with same
period a year ago. This growth was generated by increasing data
revenues, partially offset by declines in local and long-distance
revenues and a one-time non-cash gain on Transactel.
Data service and equipment revenues increased by $81 million or 13 per
cent, due primarily to strong growth in TELUS TV subscriber base
combined with rate increases in 2011, increased data equipment sales,
and higher Internet and enhanced data services revenue from several
sources including large enterprise deals.
TELUS TV quarterly additions of 44,000 were unchanged over same period
last year. The TELUS TV subscriber base of 553,000 increased by 54 per
cent from a year ago.
High Speed Internet net additions of 16,000 were unchanged from a year
ago and reflect the pull-through effect of Optik TV sales, as well as
continued broadband service expansion.
Total network access lines (NALs) declined 4.6 per cent from a year ago
to 3.5 million. Residential lines losses accelerated to 47,000.
Residential lines are down 7.2 per cent year-over-year, largely
reflecting heavily discounted offers from TELUS' primary cable
competitor in Western Canada and wireless and Internet-based
technological substitution. Business NAL losses of 10,000 accelerated
from a year ago largely due to the implementation of voice and data
services for wholesale customers in the first half of 2011, ongoing
competition in the small and medium business market, and conversion
from legacy voice services to IP services.
Wireline EBITDA of $387 million decreased by $48 million or 11 per cent
due ongoing declines in higher margin legacy voice services that were
not fully offset by growth in lower margin data services. Adjusted
EBITDA (see note 2 in the table above) was lower by $31 million or 7.4
per cent, while adjusted EBITDA margin of 30.1 per cent, was down 350
bps from last year.
Simple cash flow (Adjusted EBITDA less capital expenditures) increased
by $12 million to $98 million in the quarter due to reduced capital
CORPORATE AND BUSINESS DEVELOPMENTS
TELUS proposal to convert Non-Voting Shares into Common Shares is
TELUS announced on February 21, that it was proposing to convert its
Non-Voting Shares into Voting Shares to be decided at the May 9, 2012
annual and special meeting of shareholders pursuant to a plan of
arrangement. Under the proposal, each Non-Voting Share would be
converted into a Common Share on a one-for-one basis if approved by
two-thirds of the votes cast by the holders of Common Shares and
two-thirds of the votes cast by the holders of Non-Voting Shares, each
voting separately. In addition, court approval is required and
approvals from the Toronto and New York stock exchanges for the listing
of the new Common Shares.
After the announcement, Mason Capital, an event-driven U.S.-based hedge
fund rapidly bought approximately 33 million TELUS' Common Shares while
simultaneously selling short an almost equal number of TELUS Non-Voting
Shares and Common Shares. Despite Mason only having a net economic
interest in the company of 416,000 shares (less than 0.25 per cent), it
had control of the votes of almost 19 per cent of the Common Share
class. It announced it would vote against the proposal and subsequently
issued a dissident proxy circular, which TELUS responded to on April 25
with a second letter and proxy sent to TELUS shareholders.
Independent proxy advisory firms Institutional Shareholder Services Inc
(ISS) and Glass, Lewis taking into account Mason's filings and actions
both confirmed their recommendations to institutional clients that they
vote in favour of the proposed transaction, as recommended to TELUS
shareholders by our Board and its financial advisor Scotia Capital in
its fairness opinion.
Shareholders were set to decide the matter at TELUS' meeting of
shareholders today. However, on May 8, 2012, the Company announced it
was withdrawing the plan of arrangement set out in its 2012 Information
Circular, and plans to reintroduce a new proposal in due course.
TELUS poised to gain more 'followers' with Twitter on Optik TV
TELUS is giving customers in British Columbia, Alberta and Eastern
Quebec something to "Tweet" about with a free Twitter app on its Optik
TV service. The app is designed to provide Optik TV viewers with
convenient access to Twitter features and content without missing a
moment of their favourite TV show. This app introduces a new dimension
to TV watching and social media. Users are now able to Tweet what
they're watching and follow what others are saying about their
favourite show through 'TV Tweets', creating an innovative, new social
TV viewing experience. The Twitter app is offered free as part of the
Optik TV subscription, uses the standard Optik remote control, and
displays view trending topics and Tweets about the show they are
In February, TELUS also launched new innovations that continue to
transform the way customers enjoy Optik TV. TELUS Optik TV is the first
TV service in the world to offer customers the ability to control both
live and recorded TV using hand gestures and voice commands, over an
Xbox 360 Kinect. This means Optik TV customers can change channels up
or down, mute or unmute the volume, and pause, replay, and fast forward
without the remote control.
TELUS' also launched Optik on the go, which allows Optik TV customers to view a selection of commercial free
TV On Demand shows and movies on select smartphones, tablets and laptops anywhere in
Canada. Where available, TELUS customers will be able to experience the
service on TELUS' 4G LTE wireless network.
TELUS investing to bring B.C. cutting-edge communications technology
In March, TELUS announced it will invest in advanced technology and
state-of-the-art facilities that will expand TELUS' advanced wireless
and wireline broadband networks across the province, and in the
construction of TELUS Garden, the most advanced office and residential
development in the province's history. In addition, TELUS will invest
in creating one of the world's greenest intelligent data centres in
Kamloops, which will be built to LEED (leadership in energy and
environmental design) gold standards. The new data centre will further
expand TELUS' capacity to provide information technology management
services to business in Canada and internationally.
TELUS Garden development off to successful start
In early April, TELUS announced TELUS Garden's 415-unit condo tower had
sold out, ahead of the planned formal launch later that month. In
addition, 12 of the 21 floors available in the development's planned
office tower have already been pre-leased. The one million square foot
development will redevelop almost the entire Vancouver block as home to
TELUS' current national headquarters. The project incorporates a LEED
Platinum 24-storey signature office tower that will be home to TELUS'
new headquarters, a 46-storey residential tower built to the LEED Gold
standard and retail space along Robson and Georgia Streets.
When completed in 2014, TELUS Garden will use at least 30 per cent less
energy than a standard development of its size through the use of
innovative technologies and practices. It will transfer excess heat
from one building to another as needed, use solar panels to power some
infrastructure, and capture rainwater for toilets and garden
irrigation. Located near to the Skytrain, there will be facilities for
bicycles, and charging stations for electric cars.
TELUS introduces trade-in program for customers' used device
TELUS is making it easier for customers to get into the latest, wireless
devices with the introduction of a trade-in program. In March, TELUS
introduced a trade-in program that rewards wireless customers with
instant in-store credit for their used device while giving them a
chance to dispose of their electronic waste safely and smartly.
Customers can trade in a phone, mobile Internet key or mobile Wi-Fi
device at any participating TELUS trade-in location and will be offered
a credit for the device based on fair market value and device
condition. If a device is valued at $0, TELUS will donate $3 to Tree
Canada toward the planting of a tree for each recycled unit. TELUS
celebrated the launch of its new trade-in program with a limited time
offer - until May 21 customers get a $50 bonus credit. Credits may be
applied to any new device that is activated or renewed on TELUS service
at time of trade.
TELUS launches latest devices and focuses on exceptional in-store
During the first quarter, TELUS continued to offer customers a choice of
the latest devices. This included the LG Optimus LTE, Nokia Lumia 800,
Samsung Galaxy Nexus, Samsung Galaxy Note, and Samsung Galaxy Tab 8.9
LTE. The LG Optimus LTE and Samsung Galaxy Note allows customers to
experience the new incredible speed of the 4G LTE network, while the
Galaxy Nexus offers the latest version of the Android operating system,
Ice Cream Sandwich. The Nokia Lumia 800 represents the best in bold
design with its uni-body build and availability in three colours.
TELUS continued its focus on building an exceptional in-store experience
for customers by launching Galaxy Headquarters in approximately 350
stores across Canada. This initiative offers a quality in-store
experience focused around the Samsung Galaxy device line-up by
showcasing these products together in a central location within the
store and having knowledgeable sales reps and Learning Centre
specialists available to help customers choose the right device.
TELUS Next Generation store opens in Laval Quebec
In April, TELUS inaugurated its first of many Next Generation TELUS
stores in Laval, Québec. Located in the Carrefour Laval shopping mall
the first Next Generation TELUS store is designed with TELUS'
award-winning national brand that is instantly recognizable due to its
consistency. Set up with the latest wireless technologies, the new
store is completely interactive and designed to create a multi-sensory
experience throughout its dynamic layout. The store is designed to
encourage shoppers to fully experience the TELUS brand and our cutting
edge technologies in a variety of engaging ways including: live
devices, multiple screens and projected images, and a live Twitter feed
at the entrance.
TELUS and Vox Mobile launch Managed Mobility Services for enterprise
In March, TELUS and Vox Mobile launched a unique suite of end-to-end
Managed Mobility Services, the only such offering from an established
Canadian wireless carrier, designed specifically for the complex needs
of Canadian enterprises. TELUS Managed Mobility Services powered by Vox
Mobile is a complete service offering that manages an enterprise's
mobile infrastructure and devices from procurement to payment. The
service leverages a growing trend in enterprises to adopt "Bring your
Own Device" policies that provide more mobile device choice.
TELUS launches Virtual Private Cloud service for Canadian businesses
In April, TELUS announced the launch of the TELUS AgilIT Virtual Private
Cloud, an innovative service that enables businesses to take full
control of their cloud computing environment. The first of TELUS'
AgilIT cloud offerings, and unlike other cloud infrastructure services,
TELUS' Virtual Private Cloud service provides organizations of all
sizes access to computing resources on-demand with a powerful,
full-featured portal that enables 24x7 remote access to view and manage
TELUS supports local programs and charities through Optik TV and
From February through April, TELUS announced a number of marketing
programs supporting local organizations and charities in communities
across Canada through donations from the sale of TELUS Optik TV and
smartphones. This is consistent to TELUS' philosophy to "give where we
live" while sustaining our business success. Programs include:
TELUS is giving for every new and upgrading smartphone customer in
Edmonton, Alberta $100 to support the Campaign for Prostate Health
until May 31, 2012.
TELUS is giving in Grande Prairie, Alberta $25 to support the building
of the Philip J. Currie Dinosaur Museum for every new customer signing
up for TELUS Optik TV or activating a smartphone until August 8, 2012.
To mark the launch of Optik TV in Penticton, B.C. TELUS will give $25 to
the South Okanagan Similkameen Medical Foundation, in support of the
Penticton Regional Hospital, for every new customer signing up for
Optik TV or activating a smartphone until August 8, 2012.
TELUS will contribute $25 on behalf of every new smartphone customer in
Victoria, B.C. to the YMCA-YWCA Greater Victoria's Strong Kids Campaign
until August 8, 2012.
TELUS will give $25 in support of the Sturgeon Community Hospital
Foundation for every new Optik TV customer in St. Albert, Alberta until
August 8, 2012.
In January, TELUS announced it had raised more than $500,000 for
Opération Enfant Soleil and L'Association du cancer de l'Est du Québec
by donating $100 to the charities for every new customer signing up for
TELUS Optik TV in Eastern Quebec and Quebec City region during 2011.
Canadian entrepreneurs invited to share their challenges for a chance to
TELUS and The Globe and Mail announced the launch of The Challenge, the
second annual contest inviting Canadian small business owners to
present their biggest business challenge for the opportunity to win a
$100,000 grant from TELUS. Entrepreneurs across Canada are invited to
submit entries at Globeandmail.com/thechallenge and will be judged by a panel that includes entrepreneurs and small
business experts. The contest closes May 28, 2012.
TELUS and Canadian Youth Business Foundation team-up to support young
In April, TELUS and the Canadian Youth Business Foundation (CYBF)
announced a milestone campaign that will help young entrepreneurs
launch businesses across Canada. TELUS is donating up to $150,000 to
CYBF to help seven young entrepreneurs start and succeed in their
TELUS named one of best employers for new Canadians
For the second straight year, TELUS was named one of the Best Employers
for New Canadians in an annual competition that recognizes the nation's
leaders in assisting recent immigrants make the transition to a new
workplace and a new life in Canada. TELUS was among 40 organizations
chosen this year. Launched in 2007, the competition is managed by the
editors of Canada's Top 100 Employers in partnership with ALLIES, a
joint initiative of The Maytree Foundation and the J.W. McConnell
TELUS named one of Canada's Best Diversity Employers
For the fourth straight year, TELUS was named one of Canada's Best
Diversity Employers in an annual competition that recognizes the
nation's leaders in creating diverse and inclusive workplaces. This
year's list pays tribute to 50 organizations in Canada that have
developed exceptional diversity initiatives to promote inclusiveness
among employee groups such as women, members of visible minorities and
Aboriginal peoples. Among the reasons TELUS was selected include:
developing and implementing a diversity strategy with the support of
the TELUS Diversity and Inclusiveness Council; providing professional
development opportunities for thousands of women through Connections -
the TELUS women's network; and Creating Eagles, an Aboriginal team
member resource group at TELUS.
TELUS Investor Relations receive awards and Vice President a Lifetime
At the prestigious 15th Annual IR Magazine Canada Awards in Toronto, the TELUS IR team was recognized for the best financial
reporting across all industries, best overall investor relations in the
telecommunications sector and was ranked fourth best overall in the
list of top 50 investor relations programs. In addition, John Wheeler,
Vice President, IR, received the 2012 Lifetime Achievement Award in
Charity and first three members of field announced for 2012 TELUS World
In April, TELUS announced PGA stars Paul Casey, Anthony Kim and
defending champion Jhonattan Vegas as the first three players in the
field for the 2012 TELUS World Skins Game as the event comes to Glen
Arbour Golf Course in Halifax, Nova Scotia July 29-31. The TELUS World
Skins Game is a highlight of the Canadian summer sporting schedule for
the country's golf fans, as well as the community that hosts it.
Fulfilling its promise to "give where we live," the TELUS World Skins
Game has raised more than $10 million since 2001 for a wide variety of
important causes across Canada. This year, the event will support the
funding of new technology enhancing care at the IWK Health Centre in
TELUS announces new chair of the TELUS Montreal Community Board
In April, TELUS announced that Mrs. Claude Benoit accepted the position
of chair of the TELUS Montreal Community Board. She will replace Mr.
Bernard Lamarre, who has served on the Board since its inception in
2006. Mrs. Benoit will remain as president and CEO of the Old Port of
Montreal Corporation, a position she has held for more than a decade.
During her time there as vice-president, from 1997 to 2000, she oversaw
the development of the Montréal Science Centre. Mrs. Benoit is a member
of the Order of Canada and has been awarded the McNeil Medal from the
Royal Society of Canada for her significant contributions to the
promotion of scientific and technological literacy among students,
teachers and the general public.
The Honourable Myra A. Freeman joins the TELUS Atlantic Canada Community
In March, TELUS announced the appointment of The Honourable Myra A.
Freeman to the TELUS Atlantic Canada Community Board. Mrs. Freeman, is
a member of the Order of Canada and served for six years as the
Lieutenant Governor of Nova Scotia. Currently, Mrs. Freeman is a
national director of the Historica-Dominion Institute of Canada, the
RCMP Foundation, the Duke of Edinburgh Awards, the International
Women's Forum of Canada, the Canadian Friends of the Israel Museum, the
Frank H. Sobey Awards for Excellence in Business Studies, and the
Advisory Board of the Coady International Institute. Recently, she
served as Honourary Chair of Mount Saint Vincent University's Capital
Campaign and as advisor on the Legacy Committee of the 2011 HalifaxCanada Games. She is also a recipient of several honourary degrees and
prestigious awards, including the Woman of Action Humanitarian Award
from the Canadian Israel Research Foundation and was recognized as a
one of Canada's 100 Outstanding Women by the Richard Ivey School of
Business and the Women's Executive Network.
Days In Wait launches and $2 million in funding to support David Foster
In April, the David Foster Foundation and TELUS announced the launch of
Days In Wait, an online portal dedicated to raising awareness of the
importance of organ donation in Canada. Days In Wait refers to the
number of days a donor recipient has been waiting to receive a
life-saving organ. This innovative online community at daysinwait.com is a place where people can research information, ask questions and
register to be an organ donor. The site will also enable Canadians
touched by organ donation to share their stories of hope, support and
inspiration. In February 2011, the David Foster Foundation and TELUS
embarked on a mission to help bring awareness and education around the
critical shortage of organ donors in Canada. The creation of Days In
Wait is part of that drive. From 2010 through to the end of 2013,
TELUS, its team members and advertising agencies, TAXI and Cossette,
will have contributed more than $2 million in support of the David
Foster Foundation, including $500,000 from TELUS for the marquee
sponsorship of the David Foster Miracle Concert Weekend in Victoria,
May 25 to 27.
Dividend Declaration - Increase to 61 cents per quarter - up 10.9 per
In February, the Board of Directors declared early a quarterly dividend
of sixty-one cents ($0.61) Canadian per share on the issued and
outstanding Common shares and sixty-one cents ($0.61) Canadian per
share on the issued and outstanding Non-Voting shares of the Company
payable on July 3, 2012 to holders of record at the close of business
on June 8, 2012.
This second quarter dividend represents a 3 cent increase from the prior
quarter and a 6 cent or 10.9 per cent increase from the 55 cent second
quarter dividend paid in July 2011. This is consistent to the company's
semi-annual dividend growth model announced a year ago.
Access to Quarterly results information
Interested investors, the media and others may review this quarterly
earnings news release, management's discussion and analysis, quarterly
results slides, audio and transcript of investor webcast call,
supplementary financial information and our full 2011 annual report on
our website at telus.com/investors.
TELUS' first quarter conference call is scheduled for May 9, 2012 at 4:30 pm ET and will feature a presentation followed by a question and answer
period with analysts. Interested parties can access the webcast at: telus.com/investors. A telephone playback will be available on May 9 until June 9
(1-877-353-9587, reservation no.770348#). An archive of the webcast
will also be available at: telus.com/investors and a transcript will be posted on the website within several business
TELUS (TSX: T, T.A; NYSE: TU) is a leading national telecommunications
company in Canada, with $10.5 billion of annual revenue and
12.7 million customer connections including 7.4 million wireless
subscribers, 3.5 million wireline network access lines and 1.3 million
Internet subscribers and more than 550,000 TELUS TV customers. Led
since 2000 by President and CEO, Darren Entwistle, TELUS provides a
wide range of communications products and services including wireless,
data, Internet protocol (IP), voice, television, entertainment and
In support of our philosophy to give where we live, TELUS, our team
members and retirees have contributed more than $260 million to
charitable and not-for-profit organizations and volunteered 4.2 million
hours of service to local communities since 2000. Eleven TELUS
Community Boards across Canada lead TELUS' local philanthropic
initiatives. TELUS was honoured to be named the most outstanding
philanthropic corporation globally for 2010 by the Association of
Fundraising Professionals, becoming the first Canadian company to
receive this prestigious international recognition.
For more information about TELUS, please visit telus.com.