investor information
investor information
Reservation system – non-Canadian common shares
Under federal legislation, total non-Canadian ownership of common shares of Canadian telecommunications companies, including TELUS, is limited to 33 1/3 per cent. A reservation system controls and monitors this level. This system requires non-Canadian purchasers of common shares to obtain a reservation number from Computershare by calling the Reservations Unit at 1-877-267-2236 (toll-free). The purchaser is notified within two hours if common shares are available for registration. There are no ownership restrictions on non-voting shares.
Dividend developments
In November 2005, TELUS announced a 37.5 per cent or 7.5 cent increase to its quarterly dividend, bringing it to 27.5 cents per share.
The increase is consistent with the forward-looking dividend payout ratio guideline, set in 2004, of 45 to 55 per cent of sustainable net earnings. The guidance provides investors with greater clarity and is a framework to assess the potential for future dividend increases.
Registered shareholders1
Normal Course Issuer Bid
On December 16, 2005, TELUS implemented a second Normal Course Issuer Bid to repurchase up to 12 million of its outstanding common shares and up to 12 million of its outstanding non-voting shares for up to a 12-month period. As of December 31, 2005, TELUS had repurchased 634,000 common and 608,000 non-voting shares for $58 million under the program. The previous Normal Course Issuer Bid that expired on December 19, 2005 for the purchase of up to 25.5 million shares resulted in 10.3 million common and 11.5 million non-voting shares being purchased for $913 million or 85 per cent of the total authorized amount.
TELUS believes that such purchases are in the best interest of TELUS shareholders and constitute an attractive investment opportunity and desirable use of TELUS’ funds that should enhance the value of the remaining shares.