Rogers 2014 Annual Report Download - page 67

MANAGEMENT’S DISCUSSION AND ANALYSIS
We currently expect that the record and payment dates for the 2015
declaration of dividends will be as follows, subject to the declaration by
our Board each quarter at its sole discretion:
Record date Payment date
March 13, 2015 April 1, 2015
June 12, 2015 July 2, 2015
September 11, 2015 October 1, 2015
December 11, 2015 January 4, 2016
OUTSTANDING COMMON SHARES
The table below shows our outstanding common shares as at
December 31, 2014 and 2013.
As at December 31
2014 2013
Common shares outstanding 1
Class A Voting 112,448,000 112,462,000
Class B Non-Voting 402,297,667 402,281,178
Total common shares 514,745,667 514,743,178
Options to purchase Class B Non-Voting shares
Outstanding options 5,759,786 6,368,403
Outstanding options exercisable 3,363,046 4,066,698
1Holders of our Class B Non-Voting shares are entitled to receive notice of and to
attend shareholder meetings; however, they are not entitled to vote at these
meetings except as required by law or stipulated by stock exchanges. If an offer is
made to purchase outstanding Class A Voting shares, there is no requirement under
applicable law or our constating documentsthatanofferbemadeforthe
outstanding Class B Non-Voting shares, and there is no other protection available to
shareholders under our constating documents. If an offer is made to purchase both
classes of shares, the offer for the Class A Voting shares may be made on different
terms than the offer to the holders of Class B Non-Voting shares.
We use the weighted average number of shares outstanding to
calculate earnings per share and adjusted earnings per share. See
“Non-GAAP Measures” for more information on adjusted earnings per
share.
Years ended December 31
(Number of shares in millions) 2014 2013
Basic weighted average number of shares
outstanding 515 515
Diluted weighted average number of shares
outstanding 517 518
(IN MILLIONS)
TOTAL COMMON SHARES OUTSTANDING
2014
2013
2012
112.5 402.3
112.5 402.3
112.5 402.8
Class B Non-VotingClass A Voting
ANNUALIZED DIVIDENDS PER SHARE AT YEAR END
2014
2013
2012
$1.83
$1.74
$1.58
($)
COMMITMENTS AND OTHER CONTRACTUAL OBLIGATIONS
CONTRACTUAL OBLIGATIONS
The table below shows a summary of our obligations under firm contractual arrangements as at December 31, 2014. See notes 3, 22 and 29 to
our 2014 audited consolidated financial statements for more information.
(In millions of dollars) Less Than 1 Year 1-3 Years 4-5 Years After 5 Years Total
Short-term borrowings 842 – – – 842
Long-term debt 1963 1,750 2,524 9,658 14,895
Debt derivative instruments 2(58) – (189) (435) (682)
Expenditure derivative instruments 2(45) (19) – – (64)
Bond forwards 2337 –13
Operating leases 150 221 120 67 558
Player contracts 3132 100 52 5 289
Purchase obligations 41,610 308 140 102 2,160
Property, plant and equipment 63 52 22 45 182
Intangible assets 112 78 26 24 240
Program rights 5735 1,178 1,117 3,487 6,517
Other long-term liabilities –12 9 526
Total 4,507 3,683 3,828 12,958 24,976
1Principal obligations of long-term debt (including current portion) due at maturity.
2Net (asset) disbursements due at maturity. US dollar amounts have been translated into Canadian dollars at the Bank of Canada year-end rate.
3Player contracts are Blue Jays players’ salary contract we have entered into and are contractually obligated to pay.
4Purchase obligations are the contractual obligations under service, product and handset contracts that we have committed to for at least the next fiveyears.Purchase
obligations include a commitment to purchase a 50% interest in Glentel, expected to occur in 2015, subject to regulatory approval and completion of BCE’s acquisition of
Glentel.
5Program rights are the agreements we have entered into to acquire broadcasting rights for sports broadcasting programs and films for periods ranging from one to twelve
years.
2014 ANNUAL REPORT ROGERS COMMUNICATIONS INC. 63