VANCOUVER – Telus President and CEO Darren Entwistle has exercised 303,183 common share options, re-investing the after-tax proceeds to purchase 122,475 Telus common shares. Entwistle now holds 668,830 Telus common shares. Entwistle previously declared he 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, 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% 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.
