Strong wireless and data results drive earnings
growth
Free cash flow up 23 per cent
Quarterly dividend increased to 64
cents per share - up 10.3% from a year ago
CEO to take salary in TELUS shares for fourth consecutive
year
VANCOUVER, Nov. 9, 2012 /PRNewswire/ - TELUS Corporation's
third quarter 2012 revenue increased six per cent to $2.8 billion, while earnings before interest,
taxes, depreciation and amortization (EBITDA) increased by five per
cent to $1.0 billion. Earnings per
share rose eight per cent to $1.08.
TELUS' growth was primarily generated by a seven per cent
increase in wireless revenue and a 12 per cent increase in wireless
EBITDA, resulting from a 23 per cent increase in data revenue due
to continued smartphone adoption. Wireline revenue growth of four
per cent was generated by a 14 per cent increase in data revenue
driven by strong TV and high-speed Internet growth.
TELUS' total customer base of 13 million grew with the addition
this quarter of 116,000 new postpaid wireless customers, 42,000 new
TV subscribers and 26,000 high-speed Internet customers, partially
offset by a moderating network access line loss of 39,000. TELUS'
total wireless subscriber base of 7.6 million is up five per cent
year over year and the average revenue per unit increased by 1.5
per cent. The TELUS TV subscriber base of 637,000 is up 41 per cent
from a year ago, while high-speed Internet customers are up seven
per cent to surpass 1.3 million.
Free cash flow in the third quarter increased 23 per cent from a
year ago to $426 million
primarily due to higher EBITDA.
Annual guidance for 2012, which was last adjusted in August, has
been reaffirmed.
FINANCIAL HIGHLIGHTS |
|
|
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|
|
|
|
|
|
|
|
C$ and in millions, except per share
amounts |
|
|
|
|
|
3
months ended
September 30 |
|
|
Per cent |
(unaudited) |
|
|
|
|
|
2012 |
|
|
|
2011 |
|
|
change |
Operating revenues |
|
|
|
|
|
2,774 |
|
|
|
2,622 |
|
|
5.8 |
Operating expenses before
depreciation & amortization |
|
|
|
|
|
1,756 |
|
|
|
1,654 |
|
|
6.2 |
EBITDA(1) |
|
|
|
|
|
1,018 |
|
|
|
968 |
|
|
5.2 |
Net income(2) |
|
|
|
|
|
351 |
|
|
|
326 |
|
|
7.7 |
Earnings per share (EPS), basic(2) |
|
|
|
|
|
1.08 |
|
|
|
1.00 |
|
|
8.0 |
Capital expenditures |
|
|
|
|
|
471 |
|
|
|
470 |
|
|
0.2 |
Free cash flow(3) |
|
|
|
|
|
426 |
|
|
|
345 |
|
|
23.5 |
Total customer connections(4) |
|
|
|
|
|
12.98 |
|
|
|
12.57 |
|
|
3.3 |
(1) |
See Section 11.1 in the 2012 third quarter
Management's discussion and analysis. |
(2) |
Net income and EPS for the third quarter of 2012 included
favourable income tax-related
adjustments of $3 million or one cent per share. |
(3) |
For definition, see Section 11.2 in 2012 third
quarter Management's discussion and analysis. |
(4) |
Sum of wireless subscribers, network access
lines, total Internet subscribers, and TELUS TV
subscribers (IPTV and satellite TV). |
"Our long-standing strategy to invest in broadband wireless and
wireline data technology, services and applications within our core
businesses coupled with a focus on putting customers first has
resulted in strong quarterly operational and financial growth,"
said Darren Entwistle, TELUS
President and CEO. "We attracted 116,000 new postpaid wireless
customers, 42,000 new TV customers, and 26,000 new high-speed
Internet customers and encouragingly we saw those customers
continuing to stay with us longer, as evidenced by our industry
leading 1.44 per cent wireless churn rate. This strong performance
translated this quarter into double-digit data revenue growth,
eight per cent earnings per share growth and 23 per cent free cash
flow growth."
"I am pleased that our winning strategy and continued strong
operational execution is enabling us to again increase the
quarterly share dividend, consistent with our dividend growth model
that we announced last year," Mr. Entwistle added. "We are
increasing TELUS' dividend by 3 cents
to 64 cents a quarter, or
$2.56 annually, a 10.3 per cent
increase from a year ago. We look forward to continuing to deliver
strong operational and financial results to support the realisation
of our dividend growth ambitions through our 2013 commitment and
beyond."
"I would like to take this opportunity to extend my deep
gratitude to Bob McFarlane for his
enormous commitment and extraordinary contributions to TELUS. After
an outstanding 12 year career at our company as CFO, Bob has
decided to retire at the end of the year and devote more time to
his family and community endeavours," said Mr. Entwistle. "Bob's
distinguished leadership of TELUS' finance team has yielded a
legacy that includes setting rigorous financial policies, achieving
a stellar track record of disclosure transparency and helping TELUS
consistently deliver on our public commitments to the investment
community. His efforts, alongside those of his colleagues across
TELUS, have contributed greatly to our company's business success,
globally leading shareholder value creation amongst our peers and
industry leading balance sheet. Bob and our TELUS team have
received countless Canadian and global awards for excellence in
corporate disclosure, sustainability reporting, risk management and
investor relations. Bob was named CFO of the Year by Canadian
Business magazine, and he was honoured with the prestigious Queen's
University Kathleen Beaumont Hill Award for outstanding service and
advocacy that have contributed to the country's prosperity and
growth in business, education and community development. I greatly
appreciate Bob's many years of support and his commitment to
ensuring a smooth transition to his highly capable successor,
John Gossling, who joins TELUS with
a wealth of experience in the communications and broadcasting
industries."
Mr. Entwistle confirmed today that for the fourth consecutive
year he intends to take the entirety of his 2013 annual cash salary
compensation in TELUS common shares.
Robert McFarlane, TELUS Executive
Vice-President and CFO, said, "TELUS has a strong financial
position as reflected by the combination of continued good earnings
and cash flow growth along with a 1.7 times net debt to EBITDA
ratio, which is well within our policy range and represents the
best such credit metric in the Canadian media and telecom industry.
This positions TELUS favourably for continued advantaged access to
the capital markets and to be in a strong position for future
wireless spectrum auctions, as well as for continued dividend
growth, and builds on our track record of balancing the interests
of debt and equity investors."
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 guidance),
qualifications and risk factors (including the potential for a
future non-voting to common share exchange proposal on a
one-for-one basis, 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, second, and third
quarter reports. 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. |
OPERATING HIGHLIGHTS
TELUS wireless
- External wireless revenues increased by $104 million or 7.4 per cent to $1.5 billion in the third quarter of 2012,
compared to the same period a year ago. This growth was driven by
continued subscriber and average revenue per unit (ARPU)
growth.
- Data revenue increased by $102 million or 23 per cent to $546 million. Data ARPU increased by $3.61 or 17 per cent to $24.51. These increases were due to continued
strong adoption of smartphones and related data plans, higher
roaming volumes, growth in mobile Internet devices and tablets, and
increased revenues from text messaging.
- Blended ARPU increased by $0.90
or 1.5 per cent to $61.42 as 17 per
cent data ARPU growth more than offset a 6.8 per cent voice ARPU
decline. This is the eighth consecutive quarter of year-over-year
blended ARPU growth.
- Blended monthly subscriber churn decreased 23 basis points
year-over-year to 1.44 per cent - the lowest third quarter result
in five years - reflecting the successful customers-first marketing
and service approach, effective investments in retention and lower
churn on smartphones. Postpaid churn was 1.10 per cent, down 23
basis points from a year ago.
- Total wireless net additions of 111,000 were lower by 2.6 per
cent year-over-year from the addition of 116,000 postpaid
subscribers and a loss of 5,000 lower-ARPU prepaid subscribers.
Postpaid net additions, which declined by 13 per cent from a year
ago, were impacted by delayed customer purchase decisions ahead of
the anticipated launch of the new iPhone 5 in late September.
- Total wireless subscribers were up 4.8 per cent from a year ago
to 7.56 million and the proportion of high-value postpaid
subscribers increased by two points to 85 per cent. Smartphone
subscribers now make-up 63 per cent of the total postpaid
subscriber base of 6.4 million as compared to 48 per cent a year
ago.
- Wireless EBITDA of $640 million
increased $70 million or 12 per
cent due to strong revenue network growth and expense control. The
margin of 42.4 per cent increased by 1.9 points over last year.
Network service revenue margin was up 2.4 points to 46.6
percent.
- Simple cash flow (EBITDA less capital expenditures) increased
by $52 million or 13 per cent to
$465 million in the quarter as
EBITDA growth was partially offset by increased capital spending
related to the ongoing expansion of TELUS' new 4G LTE network, as
well as investments in HSPA+ network capacity and coverage, and
Internet data centres.
TELUS wireline
- External wireline revenues increased by $48 million or 3.9 per cent to $1.27 billion in the third quarter of 2012, when
compared with same period a year ago. This growth was generated by
increased data service and equipment revenues, partially offset by
declines in local, long-distance, and other service and equipment
revenues.
- Data service and equipment revenues increased by $93 million or 14 per cent, due primarily to
strong growth in the TELUS TV subscriber base and high-speed
Internet and enhanced data services, rate increases, and higher
equipment sales.
- TELUS TV additions of 42,000 were lower by 8,000 over the same
quarter last year, as stable growth in new customers and a
significantly lower churn rate were offset by a higher amount of
deactivations from the increasing subscriber base. The total TELUS
TV subscriber base increased 41 per cent to 637,000 up by 184,000
from a year ago.
- High-speed Internet net additions of 26,000 were 18 per cent
higher than a year ago and reflect successful promotions and the
pull-through effect of Optik TV sales. TELUS' high-speed subscriber
base of 1.3 million is up 7.0 per cent or 85,000 from a year
ago.
- Total network access lines declined 5.3 per cent from a year
ago to 3.45 million. Residential line losses of 30,000 were
unchanged year-over-year, showing an improving sequential trend
from the previous two quarters. Residential lines are down 7.7 per
cent year-over-year, reflecting ongoing competition and wireless
and Internet substitution. Business NAL losses of 9,000 reflect
ongoing price based competition in the small and medium business
market, and conversion from legacy voice services to IP
services.
- Wireline EBITDA of $378 million decreased by $20 million or 5.0 per cent due to ongoing
declines in higher margin legacy voice services that were not
offset by growth in lower margin data services.
- Simple cash flow (EBITDA less capital expenditures) declined
slightly by $3 million to
$82 million in the quarter as lower
EBITDA was largely offset by lower capital spending.
CORPORATE AND BUSINESS DEVELOPMENTS
Bob McFarlane, EVP and CFO,
retiring at year's end after outstanding career
Bob McFarlane, executive
vice-president and chief financial officer is retiring effective at
the end of the year after an extraordinarily successful 12 years at
TELUS. Bob will hand over responsibilities to John Gossling effective January 1 after a transition period.
Bob began his career at TELUS as part of the Clearnet
acquisition in August 2000, a
historic milestone in the expansion of our national growth strategy
focused on wireless and data. He was soon after appointed CFO of
TELUS based on his strong knowledge of the business, deep
understanding of the financial markets and proven track record for
raising capital. Bob has been instrumental in helping to answer
numerous and unprecedented challenges presented by the equity and
credit markets over the past dozen years such that TELUS has always
had access to long term financing to fund its prescient growth
investments in broadband wireless and wireline technology.
Indicative of his capabilities and excellent work ethic, Bob's
responsibilities while encompassing all the traditional Finance
functions, were extended in later years to include Corporate
Strategy, Mergers & Acquisitions, TELUS Ventures and Government
& Regulatory Affairs.
Bob's contributions alongside the efforts of his colleagues
across TELUS' leadership team have helped elevate TELUS' brand and
reputation to the highest levels in Canada and globally. In the area of corporate
and financial disclosure, TELUS has been ranked number one in
Canada for four of the last five
years by the Canadian Institute of Chartered Accountants. Our
annual report has been recognized as the best in the world, and
TELUS was the only company globally to be ranked in the top 10 for
eight consecutive years. Additionally, TELUS has won numerous
awards for its comprehensive social responsibility reporting
including 12 consecutive years of recognition on the prestigious
Dow Jones Sustainability Indices.
Bob will be retiring from TELUS with a wonderful legacy of
making exceptional contributions that have benefited TELUS'
shareholders, customers, team and the communities in which we live,
work and serve.
"Bob's distinguished contributions in combination with those of
his colleagues across TELUS' leadership team have delivered
world-leading shareholder value creation through price appreciation
and dividend growth," Mr. Entwistle concluded.
Experienced communications industry CFO, John Gossling joining TELUS executive
team
After an extensive executive search, John
Gossling was chosen to join TELUS' leadership team as our
next executive vice president and chief financial officer. He
starts on November 12th and will work
closely with retiring EVP and CFO, Bob
McFarlane, until the end of 2012 to ensure an effective
transition with respect to the leadership of the TELUS Finance
team.
John is a highly talented and proven finance executive with
extensive experience in the communications industry. From 2008 to
2011, he was the CFO of CTVglobemedia, leading all financial
activities for the company. John helped drive dramatically improved
financial performance at CTVglobemedia prior to the sale of the
company to BCE.
From 2000 to 2008, John held senior leadership roles with the
Rogers Communications organization, including CFO at Rogers
Wireless. In this role, John led all financial activities for the
company. As a member of the Rogers Wireless senior management team,
John was a key player in the turnaround of the company's operating
performance and was a lead executive on the acquisition of
Microcell Telecommunications.
John is a Fellow of the Institute of Chartered Accountants of
Ontario (FCA). He and his
family will be relocating to Vancouver.
TELUS shareholders vote decisively to approve 1:1 share
exchange proposal
At a joint shareholder meeting on October
17th, TELUS announced that shareholders voted strongly in
favour of its proposal to exchange the company's non-voting shares
for common shares on a one-for-one basis. Mason Capital's four
resolutions proposing alternate share exchange ratios were also
voted on at the meeting and did not pass.
Once final votes were tallied, 81.1 per cent of total shares
voted were in favour of TELUS' share exchange proposal. Of the
128.8 million common shares voted, 62.9 per cent were in favour,
and 99.5 per cent of the 127.7 million non-voting shares voted were
in favour. Excluding Mason Capital's most recently reported voting
stake, 84.4 per cent of common shares voted were in favour. The
voting results easily exceeded the approval thresholds for the
proposal to pass, specifically a simple majority of common shares
voted and two-thirds of non-voting shares voted. Voting
participation by shareholders was high at 73.6 per cent of the
common shares outstanding and 84.6 per cent of the non-voting
shares outstanding.
The hearing before the Supreme Court of British Columbia to hear Mason Capital's
appeals and TELUS' final order application under a plan of
arrangement to approve the share exchange began on November 7th. In order for the share exchange to
be effective, the Court will have to approve the Company's
application for a final order and dismiss all current and further
possible appeals. It is currently estimated that the share
exchange would not be effective until late November at the
earliest.
TELUS' 4G LTE wireless network continues to grow
In the third quarter, TELUS launched its LTE network in more than
50 new communities across the country and now covers more than 60
per cent of the Canadian population. Newly launched communities
include:
- Alberta: Brooks, Camrose, Drayton
Valley, Grande Prairie,
Lethbridge and Taber, Medicine
Hat, Red Deer, Strathmore, Okotoks and High
River;
- British Columbia: Okanagan,
Sea to Sky, Victoria, Fraser Valley, Surrey, Richmond, North
Delta, White Rock,
Langley, Maple Ridge, Pitt
Meadows, Southern Vancouver Island, Kamloops, Vernon, Prince
George, Comox, Courtenay, Campbell
River;
- Ontario: Newmarket, Aurora, Windsor, Kanata, Orleans, Nepean and Cumberland;
- Quebec: Quebec North East,
Charny, Quebec City South Shore
Levis, Ste-Dorothe, Chomedey,
Blainville, Terrebonne Mascouche,
Joliette, Joliette Repentigny,
Vaudreuil-Dorion.
TELUS launches iPhone 5
TELUS launched iPhone 5 to customers in Canada beginning on September 21. iPhone 5 is the thinnest and
lightest iPhone ever, completely redesigned to feature a stunning
new 4-inch Retina display; an Apple-designed A6 chip for blazing
fast performance; and ultrafast wireless technology—all while
delivering even better battery life. iPhone 5 comes with iOS 6, the
world's most advanced mobile operating system with over 200 new
features including: Shared Photo Streams, Facebook integration,
all-new Maps app, Passbook organization and even more Siri features
and languages. iPhone 5 customers can connect to TELUS' fast 4G
LTE, HSPA+ and DC-HSPA+ networks with Wideband Audio..
TELUS eliminates activation fees for new and renewing
customers
As part of the company's commitment to putting customers first and
being fair and transparent, TELUS announced that it will no longer
charge a $35 activation fee for new
customers or a $25 equipment exchange
fee for renewing customers who purchase a new device. TELUS is the
first of the established wireless brands to eliminate activation
fees as part of the Company's ongoing efforts to make the customer
experience clear and simple. In addition, starting November 1, 2012, TELUS announced it will begin
charging $10 for SIM cards to cover
the product cost that was previously included in their renewal and
activation fees.
TELUS launches Optik Smart Remote
In October, TELUS launched the Optik Smart Remote app, an
innovative way to surf TV and more using your mobile or tablet
device. This app enables customers to surf through all their
content choices on their phone or tablet instead of the traditional
guide on the TV. Customers can spend less time channel surfing by
using guide filters to show only what they are looking to find. By
linking the mobile device with the digital set top box, they can
use swipes to change the channel. Customers can also navigate the
interactive program guide on their mobile device without
interrupting a show and, retrieve more program related information
from sources like Internet Movie Database (IMDb), Wikipedia and
YouTube. .
TELUS also added 10 new HD channels to its lineup during the
quarter. Optik TV offers more than 550 channels, including more
than 135 in HD, which TV customers can get all their HD channels
for no extra charge.
TELUS Health eClaims continues to drive efficiencies in
claims and benefits management
In the third quarter, TELUS Health launched its nationwide eClaims
service for extended healthcare providers and extended its
partnerships with Sun Life and Desjardins to now offer TELUS Health
eClaims web portal service to their members across Canada. In addition, TELUS Health entered into
an agreement with Standard Life to integrate the TELUS Health's
eClaims service into its advanced TELUS Health Multi-Benefit Claims
Management (MBCM) platform, which will help reduce out-of pocket
expenses for plan members, decrease time spent processing insurance
paperwork for care providers and streamline the reimbursement
process.
TELUS Health launches Emergency Profile
TELUS Health recently created an Emergency Profile feature within
TELUS Health Space online portal. Emergency Profile is a free
resource that helps prepare families for an emergency quickly and
easily and makes it easy to access and share important health
information with family members and others. Consumers can sign up
for an Emergency Profile by visiting myhealthreference.com.
Emergency profile is built on TELUS Health Space, a secure platform
certified by Canada Health Infoway to store, organize and share
health information.
In September, TELUS Health unveiled the new TELUSHealth.com, an
online hub to help bring customers smart healthcare solutions that
turn information into better health outcomes to help improve the
effectiveness of the country's healthcare system.
TELUS Health acquires KinLogix, Quebec's fastest-growing cloud-based EMR
provider
In October, TELUS acquired KinLogix, Quebec's fastest-growing cloud-based
Electronic Medical Record (EMR) provider. This is TELUS' second EMR
company acquisition this year, following B.C.-based Wolf Medical
Systems. These strategic acquisitions extend TELUS Health' reach to
physicians and strengthen its leadership in the EMR market to
further its efforts to accelerate the adoption of EMR solutions
across Canada. With these
investments, TELUS is delivering on its national strategy and
commitment to the physician EMR market so the company can continue
to improve Canada's health system
and deliver better health outcomes for patients.
Generation INC., powered by TELUS: Season 3
The business TV show Generation INC., powered by TELUS, has started
its third season. The show features 12 local businesses from the
province of Québec who are visited by multidisciplinary experts who
help them reach their full potential through innovative advice,
know-how and technological tools. The Generation INC. movement has
created much enthusiasm amongst the small and medium business
market such that more than 500 local business owners submitted an
application to be part of the show and for a chance to benefit from
the advice of the experts.
Toronto glass company wins
The Challenge from TELUS and The Globe and Mail
In September, TELUS and The Globe and Mail named Toronto-based glass company Glassopolis the
winner of The Challenge contest and awarded the company a
$100,000 small business grant to
purchase new machinery and expand production across North America.
This second annual contest invited Canadian small business
owners to present their biggest business challenge for the
opportunity to win a $100,000 grant
from TELUS. Entrepreneurs across Canada were invited to submit their entries to
be judged by a panel that included entrepreneurs and small business
experts.
TELUS executive vice-president Josh
Blair recognized as Breakaway Leader
In September, Josh Blair, TELUS
executive vice-president of Human Resources, was recognized as one
of the Top 10 Breakaway Leaders in the world at the Evanta Global
HR Leadership Summit in Denver,
Colorado. The awards honoured international leaders who are
changing the face of their industry and inspiring a legacy of
excellence through ingenuity and dedication. Notably, TELUS is one
of only two Canadian companies represented on the Top 10 Breakaway
Leaders list.
TELUS' annual report ranked one of best in world
The TELUS 2011 annual report has been ranked the 14th best in the
world across all industries and was the top-ranked Canadian
company, according to this year's Annual Report on Annual Reports
2012. To develop the ranking, judges evaluated 500 annual reports
shortlisted from a wider selection of publicly listed corporations.
The comprehensive survey looks at 10 key evaluation criteria:
packaging, highlights, strategy, business, financials, investors,
governance, accounting, responsibility and communication. The
judges gave the TELUS 2011 annual report an 'A' rating and cited it
as an example of excellence in four areas (executive message,
financial review and analysis, goals-targets-outlook, and risk
factors and management). To put this accomplishment in perspective,
only 19 Canadian companies made the top 300 and only two
other Canadian companies made the top 50.
TELUS Celebration of Giving events laud local
charities
This fall, TELUS celebrated local charities as it announced how
much it is giving this year toward local community initiatives
through TELUS Community Boards and other initiatives in
Vancouver, Edmonton, Toronto, Ottawa and Montreal. The TELUS Celebration of Giving is
an annual event that brings together professionals and volunteers
from the community sector. During this special day, TELUS
recognizes the generosity and dedicated work of all those who make
a difference in their community. In 2012, TELUS and its team expect
to give $8 million to Vancouver-area organizations, $4.5 million to local community initiatives in
Edmonton, $5.5 million to Greater
Toronto-area charities and community organizations,
$1.4 million to Ottawa-based charities, and $3 million to local charities in Montreal. In addition, funds are given to
numerous local community initiatives in other regions across
Canada.
TELUS Community Excellence Awards in Quebec
In October, TELUS honoured three outstanding community leaders in
the Greater Montreal region. The
top three winners of the TELUS Community Excellence Awards are
Manon Barbeau, co-founder, executive
director and artistic director of Wapikoni mobile; Ugo Dionne, co-founder of Bénévoles d'affaires;
and Bernard Lamarre, chairman of the
board, École Polytechnique. This important honour was part of the
TELUS Celebration of Giving in Montreal. Part of TELUS Quebec's 85th
anniversary celebrations, the TELUS Community Excellence Awards
publicly recognizes people who stand out because of their
generosity, commitment to philanthropy and passion for innovation
in three main regions: Montreal,
Quebec and East of Quebec.
This award was launched with the Association of Fundraising
Professionals-Quebec Chapter (AFP) and the Association des
professionnels en gestion philanthropique (APGP).
TELUS puts fans in the Canadian Football Hall of Fame with
The Fan Cup
In September, TELUS and the Canadian Football League (CFL)
announced The Fan Cup presented by TELUS, the first ever trophy
honouring the game's most important player - the fans. Fans will
have the opportunity to put their name on a 100th anniversary
replica Grey Cup that will sit alongside the greats of the game
inside The Canadian Football Hall of Fame. Cast from the copper of
Canadian pennies, The Fan Cup will be engraved with the names of
thousands of CFL fans from across Canada be a symbol of appreciation for a
century of loyal fan support. Fans will create The Fan Cup trophy
during The Grey Cup 100 Tour by using a custom-built TELUS Penny
Press to make their own 100th Grey Cup Game collectable out of a
Canadian penny. A sliver from every penny used to create The Fan
Cup presented by TELUS, which will then be etched with all fans'
names.
TELUS expands five-year partnership as National Co-Title
sponsor of We Day
TELUS is expanding its partnership with Free the Children, a
non-profit organisation that encourages youth to be agents of
change and help find solutions for local and global societal
problems such as poverty, hunger, bullying and environmental
concerns. In addition to its five-year partnership as national
co-title sponsor of We Day, a series of inspirational concerts
taking place in cities across Canada, TELUS is contributing funds to Free
the Children through its Phones for Good campaign. TELUS is also
encouraging youth to share examples of their volunteer efforts by
writing to the company at telusforweday.com where they can
participate in a national video contest. The winner will receive
$20,000 to carry out a volunteer
activity with a local charity.
TELUS Community Ambassadors donate 9,600 backpacks across
Canada
This year, Community Ambassadors across Canada assembled 9,600 "Kits for Kids",
backpacks filled with basic school supplies for less fortunate
children. A challenge many families face in the fall is affording
school supplies. TELUS and its Ambassadors recognize the importance
of having these supplies to a young person's confidence and ability
to get off to a successful start at school. Since 2007, the
Ambassadors have given out nearly 60,000 Kits for Kids.
Dividend Declaration - Increase to 64
cents per quarter - up 10.3 per cent year-over-year
The Board of Directors has declared a quarterly dividend increase
of three cents to sixty-four cents ($0.64) Canadian per share on the issued and
outstanding Common shares and sixty-four
cents ($0.64) Canadian per
share on the issued and outstanding Non-Voting shares of the
Company payable on January 2, 2013 to
holders of record at the close of business on December 11, 2012.
In the event that the proposed share exchange of Non-Voting
Shares to Common Shares on a one-for-one basis receives all
requisite approvals and is effective prior to the dividend record
date of December 11, 2012, holders of
record on such date who previously held Non-Voting Shares would
hold Common Shares and would therefore receive the same dividend as
all other holders of Common Shares.
This new quarterly dividend represents the second increase this
year and the fourth of six planned under TELUS' plan for
semi-annual dividend increases of circa 10 per cent through to
2013. The dividend is a three cent or
4.9 per cent increase from the $0.61
quarterly dividends paid on July 3
and October 1, 2012 and a
six cent or 10.3 per cent increase
from the $0.58 quarterly dividends
paid on January 3 and April 2, 2012, which is consistent with TELUS'
dividend growth model. Dividend decisions will continue to be
subject to the Board's assessment and determination of the
Company's financial situation and outlook on a quarterly basis.
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.
Full quarterly earnings release available at:
http://www.newswire.ca/en/releases/archive/November2012/09/c6560.html
TELUS' third quarter conference call is scheduled for
November 9, 2012 at 11 a.m. 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 November
9 until December 9
(1-855-201-2300), reservation no. 859140#, access code no. 30599).
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 days.
About TELUS
TELUS (TSX: T, T.A; NYSE: TU) is a leading national
telecommunications company in Canada, with $10.8
billion of annual revenue and 13.0 million customer
connections including 7.6 million wireless subscribers,
3.4 million wireline network access lines, 1.3 million
Internet subscribers and more than 635,000 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 video.
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. Fourteen TELUS
Community Boards 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.
SOURCE TELUS Corporation