Rogers 2014 Annual Report Download - page 127

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 24: SHAREHOLDERS’ EQUITY
CAPITAL STOCK
Share class
Number of shares authorized
for issue Features Voting rights
Preferred shares 400 million • Without par value
• Issuable in series, with
rights and terms of each
series to be fixed by our
Board of Directors prior to
the issue of any series
•None
Class A Voting shares 112,474,388 • Without par value
•Each share can be
converted into one Class B
Non-Voting share
• Each share entitled to
50 votes
Class B Non-Voting shares 1.4 billion • Without par value • None
RCI’s Articles of Continuance under the Company Act (British
Columbia) impose restrictions on the transfer, voting and issue of the
Class A Voting and Class B Non-Voting shares to ensure that we
remain qualified to hold or obtain licences required to carry on certain
of our business undertakings in Canada. We are authorized to refuse to
register transfers of any of our shares to any person who is not a
Canadian in order to ensure that Rogers remains qualified to hold the
licences referred to above.
DIVIDENDS
In 2014 and 2013, we declared and paid the following dividends on
our outstanding Class A Voting and Class B Non-Voting shares:
Date declared Date paid
Dividend
per share
February 14, 2013 April 2, 2013 0.435
April 23, 2013 July 3, 2013 0.435
August 15, 2013 October 2, 2013 0.435
October 24, 2013 January 2, 2014 0.435
1.74
February 12, 2014 April 4, 2014 0.4575
April 22, 2014 July 2, 2014 0.4575
August 14, 2014 October 1, 2014 0.4575
October 23, 2014 January 2, 2015 0.4575
1.83
The holders of Class A shares are entitled to receive dividends at the
rate of up to five cents per share but only after dividends at the rate of
five cents per share have been paid or set aside on the Class B shares.
Class A Voting and Class B Non-Voting shares therefore participate
equally in dividends.
NORMAL COURSE ISSUER BID
In February 2014, we renewed our normal course issuer bid (NCIB) for
our Class B Non-Voting shares for another year. This gives us the right
to buy up to an aggregate $500 million or 35,780,234 Class B Non-
Voting shares of RCI, whichever is less, on the TSX, the NYSE and/or
alternate trading systems any time between February 25, 2014 and
February 24, 2015. We did not buy any shares for cancellation under
the NCIB during 2014. In 2013, we repurchased for cancellation a total
of 546,674 Class B Non-Voting shares for total proceeds of $22 million,
resulting in a reduction to Class B Non-voting share capital, share
premium and retained earnings of $1 million, nil and $21 million,
respectively. In 2013, we cancelled 43,993 Class B Non-Voting shares
that related to old employee share plans for proceeds of nil.
2014 ANNUAL REPORT ROGERS COMMUNICATIONS INC. 123