TELUS announces two-for-one stock split

Will enhance trading liquidity and improve share affordability 
VANCOUVER, March 14, 2013 /CNW/ - TELUS announced today that its Board of 
Directors has approved a two-for-one stock split of the company's outstanding 
common shares. Upon completion, the number of shares outstanding will double 
to approximately 653.6 million. 
On April 16, 2013, TELUS shareholders will receive one additional share for 
each share owned on the record date of April 15, 2013, subject to completion 
and approval of regulatory filings with the Toronto Stock Exchange (TSX) and 
New York Stock Exchange (NYSE). TELUS common shares after the stock split are 
expected to commence trading on or about April 17, 2013 on the TSX and the 
NYSE. 
Darren Entwistle, President and CEO, said "This two-for-one stock split builds 
on TELUS' excellent track record in respect of shareholder friendly 
initiatives. Notably, it will enhance our share trading liquidity and improve 
the affordability of our shares for retail investors." 
TELUS' shareholder friendly initiatives include: 


    --  Exchanging on February 4, 2013 all of TELUS' 151 million
        non-voting shares on a one-for-one basis into common shares,
        providing enhanced trading volumes and marketability with the
        common shares being listed on the New York Stock Exchange for
        the first time;
    --  Delivering on our dividend growth model, a three-year program
        to increase share dividends by approximately 10 per cent a year
        from 2011 through 2013. This growth model is supported by a
        long-term clear dividend payout guideline, which was recently
        increased 10 points to 65 to 75 per cent of prospective EPS;
        and
    --  Providing investors, at our shareholder meeting of May 9, with
        an update on our dividend growth model for the next three year
        period of 2014 through 2016.  Additionally, at the May 9
        meeting, clarifying the company's intentions with respect to a
        multi-year share repurchase program.

Additional information

TELUS shareholders, with or without a physical share certificate, do not need 
to take any action because the company has moved to a Direct Registration 
System (DRS). TELUS' transfer agent, Computershare, will send registered 
common shareholders a DRS advice form, which will represent the additional 
number of common shares that they are receiving as a result of the stock 
split. This will allow 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 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. 
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 13.1million 
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.

Shawn Hall TELUS Social and Media Relations 604-619-7913 shawn.hall@telus.com

Robert Mitchell TELUS Investor Relations 647-837-1606 ir@telus.com

SOURCE: TELUS Corporation

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CO: TELUS Corporation
ST: British Columbia
NI: TLS 

-0- Mar/14/2013 12:00 GMT


 
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