Telus completes two-for-one share transformation

18 Apr 2013

Canadian telco Telus has completed its previously announced two-for-one stock split of the company’s common shares. On 16 April 2013 each Telus shareholder received one additional share for each share owned, and the newly issued common shares have commenced trading on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE). As a result 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 CAD70.56 (USD68.88).

Darren Entwistle, Telus’ CEO, said that the 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 annum dividend growth model… 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.’