Rogers Comm Stock Price, News & Analysis

On April 26, 2023, Rogers Communications held its Annual General Meeting (AGM) of Shareholders, where all business items were approved. Shareholders cast votes on a total of 108,903,135 Class A Voting shares, representing 97.98% of issued shares, for the election of directors. Key elected directors included Jack L. Cockwell (99.987%), Michael J. Cooper (99.989%), and Tony Staffieri (99.992%). KPMG LLP was appointed as outside auditors, receiving 99.996% approval from 108,940,015 shares. Additionally, new directors Bradley Shaw, Trevor English, and Lisa Rogers were appointed. The results reflect solid shareholder support for the company's leadership and governance.

Rogers Communications announces a groundbreaking partnership with Lynk Global to bring satellite-to-phone connectivity across Canada, enhancing wireless access for all Canadians, especially in remote areas. The initiative aims to ensure that people can reach emergency services, like 911, no matter their location. Starting in 2024, the service will initially offer SMS capabilities and later expand to voice and data services. This move builds on Rogers' commitment to public safety and complements their 5G network coverage, reaching over 2,000 communities. Successful technical tests have already been conducted in British Columbia, with plans for further testing in Atlantic Canada. The project aims to improve cellular service availability, enhancing safety for residents and visitors in remote regions.

Rogers Communications has partnered with SpaceX to launch a satellite-to-phone service across Canada, expanding connectivity to remote areas currently lacking traditional networks. This innovative service, utilizing SpaceX's Starlink satellites, will initially support SMS text services with plans to include voice and data coverage in the future. The initiative aims to improve public safety by ensuring access to vital services like 911 in distant regions. Rogers, a leader in 5G spectrum investment, will harness its national wireless spectrum to implement this technology nationwide. This venture is part of Rogers' broader commitment to enhance connectivity through significant investments, including the expansion of its 5G network and merging with Shaw.

Rogers Communications reported strong Q1 2023 results, showcasing its leadership in Wireless customer growth. Key highlights include:

• Postpaid mobile phone net additions of 95,000, an increase of 44%.
• Postpaid churn at a low 0.79%.
• Service revenue up 4% to CAD 3,314 million, with Wireless service revenue growing by 7%.
• Adjusted EBITDA rose by 7% to CAD 1,651 million.
• Net income surged 30% to CAD 511 million, and diluted EPS increased to CAD 1.00.
• Record capital expenditures of CAD 892 million, indicating significant investment in network infrastructure.

The completion of the Shaw acquisition provides Rogers with a national 5G wireless and wireline network, enhancing its competitive position across Canada.