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Last updated on April 21, 2014 at 1:20 EDT

TELUS two-for-one stock split completed

April 17, 2013

Common shares commence trading on split basis today on TSX and NYSE

VANCOUVER, April 17, 2013 /PRNewswire/ – TELUS announced today that it has
completed its previously announced two-for-one stock split of the
company’s common shares. On April 16, 2013, each TELUS shareholder of
record as of the previous day – April 15, 2013 – received one
additional share for each share owned. The newly issued common shares
commenced trading on the Toronto Stock Exchange (TSX) and New York
Stock Exchange (NYSE) at the start of business today.

As a result of the completion of the stock split, the number of TELUS
common shares outstanding has doubled to approximately 653.7 million
while the trading price of each share will be approximately half of
yesterday’s closing price of $70.56.

“TELUS’ stock split builds upon a number of shareholder
friendly-initiatives we have undertaken in recent years, including our
exchange of non-voting shares for voting shares to create a single
share class and our three-year, 10 per cent per annum dividend growth
model, ” said Darren Entwistle, TELUS President and CEO. “By enhancing
the liquidity and affordability of our shares for investors, we are
striving to create value for the millions of Canadians who own TELUS
shares as retail investors or through their mutual or retirement
funds.”

TELUS shareholders, with or without a physical share certificate, do not
need to take any action, as the company has moved to a simple Direct
Registration System (DRS). TELUS’ transfer agent, Computershare, has
sent registered common shareholders a DRS advice form, which represents
the additional number of common shares that they receive as a result of
the stock split. This allows shareholders to hold their additional
common shares in a “book entry” form without having a physical share
certificate issued.

Caution regarding forward looking statements

This news release contains statements about future events 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 semi-annual
dividend increases), qualifications and risk factors referred to in the
Management’s discussion and analysis in the 2012 annual report, and in
other TELUS public disclosure documents and filings with securities
commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov). The stock split is generally not expected to have unfavorable tax
consequences to holders of shares in Canada or the United States.
However, shareholders are cautioned to seek their own tax advice from
their own tax advisors. 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.

About TELUS

TELUS (TSX: T, NYSE: TU) is a leading national telecommunications
company in Canada, with $10.9 billion of annual revenue and more than
13.1 million customer connections, including 7.7 million wireless
subscribers, 3.4 million wireline network access lines, 1.4 million
Internet subscribers and 678,000 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 $300 million to
charitable and not-for-profit organizations and volunteered 4.8 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


Source: PR Newswire