TELUS reports fourth quarter 2012 results and announces financial targets for 2013

TELUS reports fourth quarter 2012 results and announces financial targets for

PR Newswire

VANCOUVER, Feb. 15, 2013

Strong revenue and EBITDA growth driven by both wireless and wireline
EPS up 17 per cent and free cash flow up 29 per cent
Targeting 2013 growth in revenue up to 6 per cent, EBITDA up to 8 per cent and
EPS up to 14 per cent
Earnings enhancement program through 2015 announced

VANCOUVER, Feb. 15, 2013 /PRNewswire/ - TELUS Corporation's fourth quarter
2012 revenue increased six per cent to $2.85 billion from a year earlier,
while earnings before interest, taxes, depreciation and amortization (EBITDA)
increased by more than eight per cent to $947 million. Earnings per share
(EPS) rose 17 per cent to $0.89.

Consolidated revenue growth was generated by an eight per cent increase in
wireless revenue, due to continued subscriber and data average revenue per
unit (ARPU) growth, and a 13 per cent increase in wireline data revenue.
Consolidated EBITDA growth primarily reflects higher wireless EBITDA driven by
revenue growth and higher margins.

TELUS finished the year with 13.1 million customer connections, adding 132,000
connections in the final quarter of the year. In the quarter, TELUS added
123,000 new postpaid wireless customers, 41,000 new TV subscribers and 23,000
high-speed Internet customers, partially offset by losses of prepaid wireless
customers, phone lines and dial-up Internet. TELUS' total wireless subscriber
base of 7.7 million is up 4.5 per cent year over year, the TELUS TV subscriber
base of 678,000 is up 33 per cent, and the number of high-speed Internet
customers is up nearly seven per cent to 1.3 million.

Free cash flow in the fourth quarter increased 29 per cent from a year ago to
$263million primarily due to higher EBITDA. For the year, free cash flow
increased 34 per cent to $1.3 billion.

FINANCIAL HIGHLIGHTS                                                
C$ and inmillions, except per share amounts       three months ended
                                                      December 31     per cent
(unaudited)                                             2012     2011   change
Operating revenues                                     2,851    2,690     6.0
Operating expenses before depreciation and
amortization                                           1,904    1,816     4.8
EBITDA^(1)                                               947      874     8.4
Net income^(2)                                           291      237    22.8
Earnings per share (EPS), basic^(2)                     0.89     0.76    17.1
Capital expenditures                                     521      512     1.8
Free cash flow^(3)                                       263      204    28.9
Total customer connections^(4)                          13.1     12.7     3.0

^(1) For definition, see Section7.1 in the 2012 fourth quarter Management's
     review of operations.
^(2) Net income and EPS for both the fourth quarter of 2012 and 2011 included
     favourable income tax-related adjustments of $10 million or three cents
     per share.
^(3) For definition, see Section7.2 in 2012 fourth quarter Management's
     review of operations.
^(4) 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; "2012 was an exceptional year
for TELUS, fuelled by our long-term strategy of investing in broadband data
technology and services and applications within our core business. This has
been achieved whilst maintaining an unremitting focus on putting customers
first in every aspect of our business. Accordingly, in 2012 TELUS earned
385,000 new customers connections across our Optik TV, high-speed Internet and
wireless lines of business. Notably, our valued customers are staying with us
longer as evidenced by our industry leading 1.12 per cent postpaid wireless
monthly churn rate. This operational performance translated into strong
fourth quarter 2012 financial results as demonstrated by growth in wireless
data revenue of 22 per cent and in wireline data revenue of 13 per cent. This
helped drive consolidated EBITDA growth of eight per cent, a net income
increase of 23 per cent and free cash flow growth of 29 per cent to $263
million. We firmly believe that TELUS will continue to build on this
extraordinary momentum in 2013 and beyond."

Mr. Entwistle stated, "Operating efficiency is an ongoing way of life at the
TELUS organization made necessary by the competitive intensity in our industry
and legacy business margin pressure. Accordingly, we are implementing an
earnings enhancement programme over the next 36 months to drive improvements
in annual EBITDA of $250 million by 2015. This is reflected in the 56 per cent
increase in our planned 2013 restructuring charge of $75 million and our 2013
targets, which include a significant improvement in our wireline EBITDA trend
in 2013."

Mr. Entwistle noted, "Our strong cash flow and 2013 targeted earnings growth
supports our shareholder friendly, three-year, 10 per cent dividend growth
model, which we are clearly delivering on with ongoing semi-annual dividend
increases. I look forward to the Annual General Meeting in May to update
investors on our dividend growth model for the next three years and our
intentions with respect to multi-year share repurchase programmes."

Mr. Entwistle added: "I want to express my sincere gratitude to our committed
shareholders for their overwhelming support of our successful share exchange.
TELUS shareholders now benefit from increased liquidity and strengthened
marketability of our 326 million common shares, which are now listed on the
New York Stock Exchange for the first time."

John Gossling, TELUS Executive Vice-President and CFO said, "Our 2013 targets
announced today show mid-single digit growth in revenue and EBITDA that
translates into EPS growth of up to 14 per cent. This is made possible by our
planned EBITDA growth not only in the wireless business, but also in wireline,
facilitated by on-going major strategic network and technology investments, as
well as a continued intense focus on operational efficiency initiatives."

Mr. Gossling added, "The financial strength of TELUS was demonstrated in
December with the $500 million issuance of 10 year notes at a very attractive
interest rate of 3.35 per cent based on our strong investment grade credit
ratings, good liquidity position and healthy balance sheet. With $1.9 billion
of available liquidity, we are exceedingly well positioned for the modest $300
million of debt coming due in 2013 and for our participation in the upcoming
700 MHz spectrum auction."

This news release contains statements about 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 2013 annual targets,
semi-annual dividend increases to 2013 and CEO three-year goals to 2013 for
EPS and free cash flow growth to 2013 excluding spectrum costs),
qualifications and risk factors referred to in the attached fourth quarter
Management review of operations and Management's discussion and analysis in
the other 2012 quarterly reports and 2011 annual report, and in other TELUS
public disclosure documents and filings with securities commissions in Canada
(on SEDAR at and in the United States (on EDGAR at In
addition, there can be no assurance that the Company will initiate a normal
course issuer bid. Except as required by law, TELUS disclaims any intention or
obligation to update or reviseforward-looking statements, and reserves the
right to change,at any time at its sole discretion, its current practiceof
updating annual targets and guidance.


TELUS wireless

  *External wireless revenues increased by $109million or 7.7 per cent to
    more than $1.5 billion in the fourth quarter of 2012, compared to the same
    period a year ago. This growth was driven by continued growth in
    subscribers and ARPU.
  *Data revenue increased by $104million or 22 per cent to $570 million,
    which makes up 41 per cent of network revenue. Data ARPU increased by
    $3.64 or 17 per cent to $25.29. These increases were due to continued
    strong adoption of smartphones and applications, as well as related data
    plans, higher roaming volumes, increased revenues from text messaging and
    growth in mobile Internet devices and tablets.
  *Blended ARPU increased by $1.87 or 3.2 per cent to $60.95 as data ARPU
    growth more than offset a moderating 4.7 per cent voice ARPU decline. This
    is the ninth consecutive quarter of year-over-year growth in blended ARPU.
  *Monthly postpaid subscriber churn was 1.12 per cent, down 11 basis points
    from a year ago, while blended churn decreased 16 basis points to 1.51 per
    cent. This is the best fourth quarter churn result in six years,
    reflecting TELUS' successful Customers First marketing and service
    approach, investments in retention and lower churn on smartphones.
  *Total wireless net additions of 112,000 were lower by 17,000
    year-over-year, as postpaid net additions of 123,000 were offset by a loss
    of 11,000 lower ARPU prepaid subscribers. Postpaid net additions, which
    declined by 17 per cent from a year ago, were impacted by lower gross
    additions, partly offset by lower churn.
  *Total wireless subscribers were up 4.5 per cent from a year ago to 7.67
    million, while the proportion of high-value postpaid subscribers grew to
    85 per cent. Smartphone subscribers now represent 66 per cent of TELUS
    postpaid subscriber base, which is up from 53 per cent a year ago.
  *Wireless EBITDA of $569 million increased $69million or 14 per cent over
    last year due to strong network revenue growth and expense management. The
    EBITDA margin increased by 2.0 points to 36.9 per cent. Simple cash flow
    (EBITDA less capital expenditures) increased by $46million or 14 per cent
    to $378million in the quarter. EBITDA growth was partially offset by
    increased capital spending related to the ongoing investments in TELUS' 4G
    network capacity and coverage.

TELUS wireline

  *External wireline revenues increased by $52million or 4.1 per cent to
    over $1.3 billion in the fourth quarter of 2012, when compared with the
    same period a year ago. This growth was generated by increased data
    service and equipment revenues, partially offset by moderate declines in
    legacy voice and other revenues.
  *Data service and equipment revenues increased by $90million or 13 per
    cent, due primarily to strong growth in the TELUS TV subscriber base and
    high-speed Internet and enhanced data services, TV and high-speed Internet
    rate increases and higher data equipment sales to businesses.
  *TV additions - both IP-based Optik TV and satellite TELUS TV - of 41,000
    were lower by 15,000 than the same quarter last year, as lower gross
    additions were partly offset by a significant improvement in churn. The
    total TV subscriber base of 678,000 is up 33 per cent or 169,000 from a
    year ago.
  *High-speed Internet net additions of 23,000 were stable year over year,
    and reflect successful promotions and the pull-through effect of Optik TV
    sales. TELUS' high-speed subscriber base of 1.3 million is up 6.8 per cent
    or 84,000 from a year ago.
  *Total network access lines declined 5.2 per cent from a year ago to
    3.4million. Residential lines are down 7.7 per cent over last year,
    reflecting ongoing wireless and Internet substitution and competition.
    Business lines are down 7,000 in the quarter and 39,000 for the year,
    reflecting ongoing price-based competition in the small and medium
    business market and customer adoption of IP services.
  *Wireline EBITDA of $378million increased by $4million or 1.1 per cent
    due to improving Optik TV and Internet margins resulting from price
    increases, a lower cost of subscriber acquisition and subscriber growth.
    This is the first quarter-over-quarter increase in two years.
  *Simple cash flow (EBITDA less capital expenditures) increased by $18
    million or 60 per cent to $48 million in the quarter due to lower capital
    spending and higher EBITDA.

TELUS sets 2013 financial targets and new dividend payout ratio

TELUS today announced 2013 financial targets that reflect continued execution
of the company's long-standing and successful national growth strategy focused
on wireless and data.

TELUS' 2013 targets build on the strong results achieved in both wireless and
wireline in 2012, including strong double-digit data revenue growth in both
operating segments of the business. TELUS plans to generate future growth
through wireless net additions combined with smartphone adoption and upgrades,
continued Optik TV and high-speed Internet subscriber growth, while assuming
ARPU growth across these services.

These targets demonstrate the benefits of the company's ongoing major
strategic network and service-related investments combined with
customer-focused operational execution, which has resulted in revenue and
profitability growth as well as strong free cash flow.

The 2013 targets and 2012 comparative results are presented based on applying
amended accounting standard IAS 19 Employee Benefits (2011), effective in
2013. For targets presented before application of IAS 19 please see
Section1.4 of the Management's review of operations, which follows.

After application of IAS 19         2013 Targets    2012 adjusted    Growth
Revenues                          $11.4 to $11.6  $10.921 billion  4 to 6%
EBITDA^(1)(2)                      $3.95 to $4.15   $3.859 billion  2 to 8%
Earnings per share (reported)^(2)  $3.80 to $4.20       $3.69      3 to 14%

Capital expenditures, excluding    Approx. $1.95   $1.981 billion     -
payments for spectrum ^(3)           billion
Revenue (external)                  $6.2 to $6.3   $5.845 billion  6 to 8%
EBITDA^(2)                        $2.575 to $2.675 $2.458 billion  5 to 9%
Revenue (external)                  $5.2 to $5.3    $5.076 billion  2 to 4%
EBITDA^(2)                        $1.375 to $1.475  $1.401 billion  (2) to 5

1) Earnings before interest, taxes, depreciation and amortization (EBITDA)
     after restructuring costs.
     Total restructuring costs are estimated at approximately $75 million in
     2013 ($48 million in 2012).
2)   The 2013 targets and comparative figures for 2012 EBITDA and EPS
     include the effects from applying                                     
     amended accounting standard IAS 19 Employee Benefits (2011).
3)   Capital expenditure target for 2013 excludes                  
     purchases of wireless spectrum.

For 2013, TELUS is targeting consolidated year-over-year revenue growth of
between 4 and 6 per cent, while EBITDA is targeted to be higher by 2 to 8 per
cent. Revenue and EBITDA should benefit from continued strong execution in
wireless and data services. Earnings per share (EPS) is targeted to be higher
by 3 to 14per cent, due to EBITDA growth.

TELUS wireless revenue is targeted to increase between 6 and 8 per cent in
2013 as a result of modest growth in subscribers and ARPU. Loading should
benefit from a Canadian wireless industry penetration gain similar to 2012 of
approximately two to three percentage points. TELUS should continue to benefit
from its 4G long-term evolution (LTE) network investments, resulting in
continued growth in data and roaming revenues and helping to offset moderating
declines in voice ARPU. Wireless EBITDA is targeted to be higher by between 5
and 9 per cent.

Wireline revenue is targeted to increase between 2 and 4 per cent in 2013,
reflecting continued data revenue growth from Optik TV and high-speed
Internet, as well as from business services, partially offset by continued
decreases in legacy voice revenues. The wireline EBITDA range is targeted to
increase by up to five per cent or to be lower by two per cent. The company
assumes margin improvements from Optik services, large enterprise business and
efficiency initiatives, partially offset by the ongoing industry trend of
revenue losses from higher-margin legacy voice services. It should be noted
that before applying amended accounting standard IAS19 (2011), the 2013
wireline EBITDA target was $1.5 to $1.6 billion, an increase of zero to six
per cent from 2012 reported EBITDA of $1.5 billion, which was down 5.5 per
cent from 2011.

Consolidated capital expenditures in 2013 are targeted to remain at
approximately $1.95billion, which excludes purchases of spectrum, including
the cost for 700MHz spectrum from a planned national auction in the second
half of 2013. The company plans to continue investing in wireless capacity and
network growth, while investment in urban deployment of 4G LTE is planned to
decline. TELUS intends to continue broadband infrastructure expansion and
upgrades to support Optik TV and high-speed Internet subscriber growth and
faster Internet broadband speeds. In addition, the company plans to complete
the new advanced Internet data centre in Kamloops, B.C. Capital intensity as a
percentage of consolidated revenue is targeted to decline to approximately 17
per cent from 18 per cent in the last three years.

As an outcome of our 2013 targets, free cash flow before dividends and
potential wireless spectrum purchase costs is calculated to be in the range of
$1.2 to $1.4 billion, which is comparable to $1.3 billion in 2012. Strong
growth in EBITDA is being offset by higher cash taxes in the range of $390 to
$440 million ($150 million in 2012). Cash taxes are moving higher due to
rising taxable income and we do not anticipate major positive adjustments in
2013 as were attained in past years, such as resolutions of prior years' tax

The preceding disclosure respecting TELUS' 2013 financial targets and the
following disclosure on TELUS dividend payout ratio guideline contain
forward-looking information and are fully qualified by the 'Caution regarding
forward-looking statements' at the beginning of the accompanying Management's
review of operations for the fourth quarter of 2012 and are based on
management's expectations and assumptions as set out in section 1.5 entitled
'Financial and operating targets for 2013' of such Management's review of

Financial guideline on dividend payout increased

TELUS follows a published set of financial objectives, policies and
guidelines, including generally maintaining a minimum of $1billion of
unutilized liquidity, maintaining a ratio of net debt to EBITDA (excluding
restructuring costs) of 1.5 to 2.0 times, and following a dividend payout
ratio guideline.

The Board of Directors has approved a 10 percentage point increase in the
dividend payout ratio guideline to a range of 65 to 75 per cent of sustainable
net earnings on a prospective basis for dividends declared in 2013 onward.
This change is due to the negative non-cash impact on EPS of applying in 2013
the amended accounting standard IAS 19 for employee benefits.


TELUS completes non-voting share exchange effective February 4
TELUS completed its exchange of all non-voting shares for common shares on a
one-for-on basis on February 4.

At a shareholder meeting on October 17, TELUS shareholders overwhelmingly
approved TELUS' revised proposal to exchange non-voting shares into common
shares on a one-for-one basis. Of the votes cast, 62.9 per cent of common
shares and 99.5 per cent of non-voting shares were in favour of the exchange.

In December, the Supreme Court of B.C. approved the share exchange and
dismissed Mason Capital's appeals. However, Mason filed a further appeal and
the court issued a stay postponing the exchange until this appeal was
concluded. Mason announced in January that its previously-reported hedged
position of approximately 19 per cent of TELUS common shares had been reduced
to 3.4 per cent. On January 25, Mason and TELUS agreed to abandon all
litigation, allowing the share exchange to be completed effective on February
4, 2013. The agreement did not involve the payment of funds to either party.

TELUS now has a single class of 326 million common shares, which are trading
on the New York Stock Exchange (NYSE) for the first time, as well as the
Toronto Stock Exchange (TSX). Having a single class of widely traded shares
should benefit all shareholders through enhanced marketability and trading
volumes and enhances TELUS' track record of excellence in corporate

TELUS non-voting shares were delisted from the NYSE on February 4 and from the
TSX on February 8. TELUS common shares were listed and began trading on the
NYSE on February 4 under the symbol "TU," the same symbol under which TELUS'
non-voting shares had traded previously. The additional common shares issued
began trading on the TSX on February 11 under the current symbol 'T.'

Registered shareholders who held non-voting shares certificates do not need to
take any action. A DRS (Direct Registration System) advice form was mailed to
registered shareholders for the total number of common shares received upon
the exchange. This allows registered shareholders to hold their new common
shares in "book-entry" form without having a physical share certificate.
TELUS' agent Computershare mailed the DRS Advice forms to registered holders
of former non-voting shares on February 13, 2013.

John Gossling new CFO effective January 1
John Gossling became TELUS' chief financial officer on January 1, 2013 after
joining the executive team in November 2012. He is a highly talented and
proven finance executive with extensive experience in the communications
industry. From 2008 to 2011, John was the CFO of CTVglobemedia, leading all
financial activities for the company. From 2000 to 2008, he held senior
leadership roles with the Rogers Communications organization, including CFO at
Rogers Wireless.

TELUS issues $500 million of long-term debt at attractive rate
In December, TELUS successfully completed a $500 million public offering of
10-year 3.35 per cent notes. The net proceeds of the new bonds were used to
repay a portion of our outstanding commercial paper. This debt issue and
attractive interest rate demonstrates TELUS' excellent access to capital
markets based on the company's strong investment grade credit ratings, good
liquidity position and healthy balance sheet.

TELUS launches highly anticipated BlackBerry Z10
In February, TELUS launched the long-anticipated BlackBerry® Z10 smartphone.
The new device has been re-designed, re-engineered and re-invented to be the
fastest and most advanced BlackBerry yet. Enhancements include:

  *Blackberry Hub, which ensures the information that matters most to
    customers is only one swipe away;
  *An enhanced keyboard that enables customers to type faster and more
  *BBM™ (BlackBerry Messenger), which allows customers to share things in an
    instant with the people who matter to them;
  *BlackBerry Balance™ technology, which protects what is important to
    customers and the businesses they work for.

TELUS adds new Android and Windows Phone 8 smartphones to its device line-up
In the fourth quarter, TELUS continued to offer customers a wide choice of the
latest and best Android and Windows 8 devices, including the HTC One X+,
Samsung ATIV S, the LG Optimus G, and the Samsung Ace II X.

TELUS' 4G LTE wireless network now reaches more than two-thirds of Canadians
In the fourth quarter, TELUS extended its LTE network to reach more than
two-thirds of Canadians. Now, the world's fastest and most advanced wireless
technology is also available in:

  *British Columbia: 100 Mile House, Meritt, Chetwynd, Dawson Creek, Fort St
    John, Tumbler Ridge, Golden, Revelstoke, Sunshine Coast, Armstrong
  *Alberta: Fort McKay, Lloydminster, Hinton, Jasper, Fort McMurray
  *Ontario: Brantford, St. Catharines, Blue Mountain, Sudbury, Niagara Falls,
    Leamington, Thunder Bay, Oshawa, Whitby
  *Quebec: St-Augustin-de-Desmaures, Ste-Marie de Beauce, Sept-Îles, Port
    Cartier, Trois Rivières, Matane, Ste-Hyacinthe
  *New Brunswick: Moncton
  *Newfoundland and Labrador: St. John's.

TELUS opens advanced, green Internet data centre in Rimouski
In December, TELUS officially opened its new $65 million Intelligent Internet
Data Centre (IDC) in Rimouski, announcing it will invest an additional $13
million in added IT infrastructure to bring world-class cloud-based solutions
to Canadian businesses. Over 80 per cent more energy-efficient than
traditional IDCs, the new facility ranks among the top-performing data centres
in the world and provides TELUS clients with maximum reliability and security.
TELUS will open a similar facility in Kamloops, B.C. in mid-2013.

TELUS is contributing to Canada's competitiveness by offering world-class
managed cloud-based solutions that enable businesses to focus on their core
activities, while providing business agility, helping to align IT with
business strategy, and providing significant cost savings.

TELUS Health and Desjardins bring simplicity to online claims
In December, TELUS Health and Desjardins Financial Security (DFS) announced
the availability of point-of-care online claim submissions via the TELUS
Health eClaims web portal service. Now, allied healthcare providers -
physiotherapists, chiropractors, vision care providers, naturopathic doctors,
massage therapists and acupuncturists - can file claims in their offices for
patients who are DFS plan members, saving patients time and accelerating the
claims process.

TELUS one of The Global 100 Most Sustainable Corporations in the World
TELUS was the only North American telecommunications company to earn a place
on the 2013 Global 100 Most Sustainable Corporations in the World ranking. The
Global 100 is the world's most extensive data-driven corporate sustainability
assessment. Corporate Knights uses the Global 100 ranking and the underlying
research methodology to explore 'sustainable' investment strategies with

TELUS inducted into Canada's Most Admired Corporate Cultures Hall of Fame
In February, TELUS was inducted into Canada's 10 Most Admired Corporate
Cultures Hall of Fame by executive search firm Waterstone Human Capital. The
national program recognizes Canadian companies for having a culture that has
helped them enhance performance and sustain a competitive advantage. TELUS
joins just five other Canadian companies that have been inducted into the Hall
of Fame.

Canada's Most Powerful Women: Top 100 Award
Two TELUS leaders were among 100 outstanding women honoured by the Women's
Executive Network (WXN) in 2012. Andrea Goertz, senior vice-president of
strategic initiatives and communications, was recognized in the Corporate
Executives category. Monique Mercier, senior vice-president, chief legal
officer and corporate secretary, was recognized in the Professionals category.
WXN is Canada's leading organization dedicated to the advancement and
recognition of executive-minded women in the workplace.

TELUS wins Canadian Health Informatics Award 2012 Award for Corporate
The TELUS Health team received the prestigious Canadian Health Informatics
Corporate Citizenship Award in November. Kids' Health Link Foundation
nominated TELUS Health for the award in recognition of TELUS Health's
commitment to health informatics and its more than $1 billion investment in
healthcare over the past five years.

TELUS top in 2012 Corporate Reporting Awards
In November, TELUS received the top overall award at the 2012 Corporate
Reporting Awards, presented by the Canadian Institute of Chartered Accountants
(CICA). This is the third year in a row TELUS has won the top award and the
fifth time in the last six years. The awards cover all aspects of corporate
reporting including financial reporting, corporate governance disclosure,
electronic disclosure and sustainable development reporting.

TELUS receives Canadian Partner of the Year Award from Palo Alto Networks
Palo Alto Networks named TELUS its Canadian Partner of the Year in November.
TELUS was honoured with the award at the Palo Alto Networks Americas Partner
Summit 2012 for, among other things, continued excellence in technical support
and customer service.

TELUS honoured as Philanthropic Company of the Year
In November, TELUS became the first organization to be named Philanthropic
Company of the Year by the Association of Fundraising Professionals-Quebec
Chapter (AFP-QC). Non-profit organization Lighthouse Children and Families
nominated TELUS for the award. Each year, AFP-QC pays tribute to individuals
and companies whose community engagement has a significant impact on Quebec

TELUS and Free the Children launch Give Where You Live curriculum
In January, TELUS and Free the Children announced the Give Where You Live
program to encourage and empower young Canadians to become leaders in their
local communities. Launching in 40 British Columbia secondary schools this
year, the program aims to involve 150,000 youth across Canada in the
philanthropic curriculum by 2016.

Dividend Declaration and new dividend payout ratio target guideline
The Board of Directors has declared a quarterly dividend of sixty-four cents
($0.64) Canadian per share on the issued and outstanding Common shares of the
Company payable on April 1, 2013 to holders of record at the close of business
on March 11, 2013. This first quarter dividend is the same as the previous
quarter, but represents a six cent or 10.3 per cent increase from the 58 cents
paid a year earlier.

The Board of Directors approved a 10 percentage point increase in the dividend
payout ratio guideline to a range of 65 to 75 per cent of sustainable net
earnings on a prospective basis, effective for dividends declared in 2013
onwards. The change results from the negative non-cash effects from applying
in 2013 the amended accounting standard IAS19 Employee benefits (2011).


TELUS (TSX: T, NYSE: TU) is a leading national telecommunications company in
Canada, with $10.9 billion of annual revenue and more than 13.1million
customer connections, including 7.7million wireless subscribers, 3.4million
wireline network access lines, 1.4million 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

In support of our philosophy to give where we live, TELUS, our team members
and retirees have contributed more than $300million to charitable and
not-for-profit organizations and volunteered 4.8million 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.

Access to Quarterly results information

Interested investors, the media and others may review this quarterly earnings
and 2013 targets news release, management's review of operations, quarterly
results and 2013 targets slides, audio and transcript of investor webcast
call, supplementary financial information and our full 2011 annual report at

Full quarterly earnings release available at:

TELUS' fourth quarter and 2013 targets conference call is scheduled for
February 15, 2013 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 A telephone playback will be available on
February 15 until May 15 at 1-855-201-2300. Please use reservation 950321# and
access code 30599. An archive of the webcast will also be available at and a transcript will be posted on the website within
several business days.

SOURCE TELUS Corporation


For more information about TELUS, please

Media relations:
Shawn Hall
(604) 619-7913

Investor relations:
Robert Mitchell
(647) 837-1606
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