TELUS President and CEO Darren Entwistle exercised 303,183 options, purchasing
122,475 shares with entire after-tax proceeds
VANCOUVER, Feb. 27, 2013 /CNW/ - Yesterday TELUS President and CEO Darren
Entwistle exercised 303,183 common share options, re-investing the after-tax
proceeds to purchase 122,475 TELUS common shares. Mr. Entwistle now holds
668,830 TELUS common shares.
Investing in TELUS shares is consistent with Mr. Entwistle's past practice,
aligning his interests with those of TELUS' more than 300,000 shareholders and
demonstrating his continuing confidence in the company's strategy.
As previously disclosed, Mr. Entwistle is taking his 2013 cash salary
compensation in TELUS shares for the fourth straight year.
Earlier this month when TELUS released its fourth quarter financial results,
Mr. Entwistle noted the company's strong free cash flow and 2013 targeted
growth in EBITDA and EPS support TELUS' shareholder dividend growth model.
This is a three-year plan to increase share dividends by approximately 10 per
cent a year to the end of 2013.
It was also disclosed that TELUS will update investors, at its upcoming annual
general meeting on May 9, on TELUS' dividend growth model for the next three
years to 2016 and the company's intentions with respect to a multi-year share
Forward looking statement
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 2013 annual targets and semi-annual dividend increases to
2013), qualifications and risk factors referred to in the fourth quarter 2012
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 sedar.com) and in the United States (on EDGAR at sec.gov).
In addition, there can be no assurance that the Company will initiate a normal
course issuer bid in 2013 or maintain its dividend growth model beyond 2013.
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.
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 video.
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.
For more information about TELUS, please visit telus.com.
For media inquiries, please contact:
Shawn Hall TELUS Social and Media Relations 604-619-7913 firstname.lastname@example.org
For investor inquiries, please contact:
Robert Mitchell TELUS Investor Relations 647-837-1606 email@example.com
SOURCE: TELUS Corporation
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CO: TELUS Corporation
ST: British Columbia
-0- Feb/27/2013 12:00 GMT
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