VANCOUVER – Telus announced today that it has completed its previously announced two-for-one stock split of the company’s common shares, making the trading price of each share approximately half of yesterday’s closing price of $70.56.
Yesterday, the company’s shareholders received one additional share for each share owned. The newly issued common shares commenced trading on the Toronto and New York Stock Exchanges at the start of business today. With the completion of the stock split, the number of Telus common shares outstanding has doubled to approximately 653.7 million.
“Telus’ stock split builds upon a number of shareholder friendly-initiatives we have undertaken in recent years, including our exchange of non-voting shares for voting shares to create a single share class and our three-year, 10% per annum dividend growth model,” said Darren Entwistle, Telus president and CEO, in a release. “By enhancing the liquidity and affordability of our shares for investors, we are striving to create value for the millions of Canadians who own Telus shares as retail investors or through their mutual or retirement funds.”
