TELUS completes Normal Course Issuer Bid

                   TELUS completes Normal Course Issuer Bid

PR Newswire

VANCOUVER, Sept. 24, 2013

Purchased 31.2 million TELUS shares for $1 billion

VANCOUVER, Sept. 24, 2013 /PRNewswire/ - TELUS has completed its
previously-announced Amended Normal Course Issuer Bid (NCIB) program,
purchasing 31.2 million shares or 4.8 per cent of its outstanding shares for
$1 billion, reflecting an average price paid of $32.07 per share.

Darren Entwistle, TELUS President and CEO said, "TELUS reached a significant
milestone today, completing our 2013 share purchase program and returning $1
billon to our shareholders. Consistent with our goals of providing sustained
and superior investment returns to our shareholders, TELUS share purchases
were doubled in the first year of this four-year program, enabling us to
capitalize on our strong balance sheet and attractive share price to purchase
additional shares and thus return more value to shareholders than first
envisioned. When including dividend payments and share purchases, TELUS has
returned more than $1.6 billion to shareholders in the first nine months of
this year."

"TELUS is in a unique position in that we are returning significant amounts of
capital to shareholders through share purchases and dividends, whilst
simultaneously investing in advanced broadband technology and services to
support ongoing sustainable business growth. When coupled with our relentless
focus on putting customers first and our continued diligence on efficiency,
TELUS is in a strong position to successfully complete our shareholder
friendly initiatives through 2016," Mr. Entwistle added.

The average NCIB purchase price of $32.07 per share represents a 10 per cent
discount to the closing share price on September 24, 2013. Cancelling 31.2
million shares will save TELUS approximately $42 million in annual dividend

Supporting TELUS' goals of returning capital to shareholders, the company
extended its semi-annual dividend growth program to 2016, normally announced
in May and November, and is targeting to increase the dividend in the range of
circa 10 per cent annually. In addition, TELUS currently intends to renew its
NCIB share purchase program in each of the next three years in order to permit
purchases of up to $500 million in each calendar year. Future dividends and
NCIBs will be dependent on earnings and free cash flow, subject to Board
assessment and determination, and obtaining regulatory (including TSX)
approvals for future NCIBs.

TELUS' Board of Directors believes that such share purchases are in the best
interest of TELUS and that such purchases constitute an attractive investment
opportunity and desirable use of TELUS' funds that should enhance the value of
the remaining shares.

Forward Looking Statements
This media release contains statements about future events at 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 events to differ materially from that expressed in the
forward-looking statements. Specifically, there can be no assurance that the
Company will maintain its dividend growth program through to 2016 or as to how
many shares, if any, will ultimately be acquired by TELUS under any NCIB.
Accordingly, this news release is subject to the disclaimer and qualified by
the assumptions, qualifications and risk factors referred to in the first and
second quarter Management's discussion and analysis, in the 2012 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, including factors such as regulatory and
government decisions, competitive environment, reasonable economic performance
in Canada, our earnings and free cash flow and capital expenditure and
spectrum auction requirements, all of which, in addition to the factors
outlined in this news release, may affect the Company's ability to sustain the
dividend growth program to 2016, and the ability to sustain and complete
multiyear share purchase programs to 2016. 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 $11.2 billion of annual revenue and 13.2million customer
connections, including 7.7million wireless subscribers, 3.3million wireline
network access lines, 1.4million Internet subscribers and 743,000 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

SOURCE TELUS Corporation


Investor Relations
Darrell Rae
(604) 697-8192

Media Relations
Shawn Hall
(604) 619-7913
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