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TELUS Corporation reports developments across a Canadian communications technology business that provides wireless, internet, television and landline phone services, with incumbent wireline operations in British Columbia and Alberta and a smaller wireline presence in eastern Quebec. News also reflects its non-telecom businesses, including TELUS Digital, TELUS Health and TELUS Agriculture & Consumer Goods.
Recurring TELUS updates include operating and financial results, dividend declarations, debt and capital-structure actions, annual meeting governance matters and leadership changes. Company and partner announcements also cover digital customer experience, AI data services, trust and safety solutions, broadband service capabilities and technology partnerships tied to connectivity and enterprise services.
TELUS Corporation (NYSE: TU) reports preliminary and unaudited estimates for TELUS International for Q4 and full-year 2020. Estimated revenues from customer contracts for Q4 range from $430 million to $445 million, down from $445 million in Q4 2019. Full-year revenues are estimated between $1,569 million and $1,584 million compared to $1,584 million in 2019. Net income for Q4 is projected at $13 million versus $20 million in 2019, and full-year net income estimates range from $95 million to $102 million, down from $102 million in 2019. These results are subject to final adjustments.
TELUS International, a subsidiary of TELUS Corporation (TU), has launched a roadshow for its initial public offering (IPO) of 33.33 million subordinate voting shares, priced between US$23 and US$25 per share. The offering includes shares from TELUS and Baring Private Equity Asia. Post-IPO, TELUS is expected to retain approximately 66.6% voting power. The IPO is subject to market conditions and requires a prospectus to be effective. Key underwriters include J.P. Morgan and Morgan Stanley.
TELUS Corporation (NYSE: TU) announced that its subsidiary, TELUS International, has filed a registration statement for an initial public offering (IPO) of subordinate voting shares. The IPO, expected to be filed on January 11, 2021, will consist of shares from TELUS International and a secondary offering from TELUS and Baring Private Equity Asia. The exact number of shares and pricing is yet to be determined. The IPO's success is contingent on market conditions, and no sales can occur until the registration becomes effective.
TELUS has been recognized by the Wall Street Journal as the only telecommunications company worldwide in its Top 100 Most Sustainably Managed Companies ranking, achieving 29th overall and 15th in Social Capital. In response to the COVID-19 pandemic, TELUS contributed $150 million to relief efforts and launched programs aiding vulnerable communities. TELUS has also committed to achieving operational net carbon neutrality by 2030 and has a strong record of philanthropy, contributing $1.3 billion since 2000.
TELUS has launched the TELUS Pollinator Fund for Good, a $100 million initiative aimed at investing in startups focused on societal benefits in health, agriculture, environmental sustainability, and social inclusion. The fund seeks to support entrepreneurs who tackle pressing challenges and promote social innovation in Canada. With an advisory board to guide investments, the fund emphasizes engagement with early-stage companies and partnerships with organizations like Windmill Microlending and Tidal Vision. TELUS aims to combine profit with purpose, enhancing social and economic outcomes.
The Board of Directors has declared a quarterly dividend of $0.3112 Canadian per share for holders of Common shares. The dividend is payable on January 4, 2021, to shareholders on record as of December 11, 2020. This decision reflects the company's commitment to return value to its shareholders.
TELUS Corporation reported strong operational and financial results for Q3 2020, achieving a record high of 277,000 net customer additions, driven by best-in-class service and network performance. Total revenue increased by 7.7% to $4.0 billion, while EBITDA saw a slight decline of 0.6%. The company’s wireless segment added 198,000 new connections, including 111,000 high-quality mobile phone subscribers. TELUS also reinstated its dividend growth program with a 7% increase, reflecting confidence in future cash flow and profitability. However, net income dropped 27% year-over-year due to pandemic impacts.
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TELUS has announced a $500 million offering of 10-year senior unsecured Series CAD notes, featuring a 2.05% interest rate, priced at $99.793 per $100 principal amount. The effective yield stands at 2.073% per annum, with maturity set for October 7, 2030. The proceeds will support corporate purposes, including broadband investments and repayment of commercial paper. The offering will close around October 5, 2020, and is not available to U.S. residents. Forward-looking statements caution potential risks, emphasizing the uncertainties of market conditions.
TELUS announced a $500 million offering of senior unsecured Series CAD notes with a 10-year maturity, featuring a 2.05% interest rate. The notes, priced at $99.793 per $100 principal amount, will yield 2.073% annually and mature on October 7, 2030. Net proceeds will support general corporate purposes, including broadband network investments and repayment of commercial paper. The offering is expected to close around October 5, 2020. This transaction is not available in the U.S., and the notes have not yet been approved by Canadian securities regulators.