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
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 repurchase program.
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
13.1 million customer connections, including 7.7 million wireless
subscribers, 3.4 million wireline network access lines, 1.4 million
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 $300 million to
charitable and not-for-profit organizations and volunteered 4.8 million
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
For more information about TELUS, please visit telus.com.
SOURCE: TELUS Corporation
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