Rogers 2015 Annual Report Download - page 66

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MANAGEMENT’S DISCUSSION AND ANALYSIS
DIVIDENDS AND SHARE INFORMATION
DIVIDENDS
In January 2015, the Board authorized an increase to the annualized dividend rate from $1.83 to $1.92 per Class A Voting and Class B
Non-Voting share. In January 2016, the Board declared a quarterly dividend of $0.48 per Class A Voting share and Class B Non-Voting
share, to be paid on April 1, 2016, to shareholders of record on March 13, 2016.
The table below shows when dividends have been declared and paid on both classes of our shares:
Declaration date Record date Payment date
Dividend per
share (dollars)
Dividends paid
(in millions of dollars)
January 28, 2015 March 13, 2015 April 1, 2015 0.48 248
April 21, 2015 June 12, 2015 July 2, 2015 0.48 247
August 13, 2015 September 11, 2015 October 1, 2015 0.48 247
October 22, 2015 December 11, 2015 January 4, 2016 0.48 247
February 12, 2014 March 14, 2014 April 4, 2014 0.4575 235
April 22, 2014 June 13, 2014 July 2, 2014 0.4575 235
August 14, 2014 September 12, 2014 October 1, 2014 0.4575 235
October 23, 2014 December 11, 2014 January 2, 2015 0.4575 235
We currently expect that the record and payment dates for the
2016 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, 2016 April 1, 2016
June 12, 2016 July 4, 2016
September 11, 2016 October 3, 2016
December 11, 2016 January 3, 2017
OUTSTANDING COMMON SHARES
As at December 31
2015 2014
Common shares outstanding 1
Class A Voting 112,438,692 112,448,000
Class B Non-Voting 402,307,976 402,297,667
Total common shares 514,746,668 514,745,667
Options to purchase Class B Non-
Voting shares
Outstanding options 4,873,940 5,759,786
Outstanding options
exercisable 2,457,005 3,363,046
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 documents that an offer be made for the
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.
Years ended December 31
(Number of shares in millions) 2015 2014
Basic weighted average number of
shares outstanding 515 515
Diluted weighted average number of
shares outstanding 517 517
($)
ANNUALIZED DIVIDENDS PER SHARE AT YEAR END
2015
2014
2013
$1.92
$1.83
$1.74
64 ROGERS COMMUNICATIONS INC. 2015 ANNUAL REPORT