Telus 2011 Annual Report Download - page 138

134 . TELUS 2011 ANNUAL REPORT
12 DIVIDENDS PER SHARE
Summary schedule of dividends declared and review of dividend reinvestment plan
(a) Dividends declared
Years ended December 31
(millions except per share amounts) 2 0 11 2010
Common Share and Declared Paid to Declared Paid to
Non-Voting Share dividends Effective Per share shareholders Total Effective Per share shareholders Total
Mar. 11, 2011 $ß0.525 Apr. 1, 2011 $ß170 Mar. 11, 2010 $ß0.475 Apr. 1, 2010 $ß152
June 10, 2011 0.550 July 4, 2011 178 June 10, 2010 0.500 July 2, 2010 161
Sep. 9, 2011 0.550 Oct. 3, 2011 179 Sep. 10, 2010 0.500 Oct. 1, 2010 160
Dec. 9, 2011 0.580 Jan. 3, 2012 188 Dec. 10, 2010 0.525 Jan. 4, 2011 169
$ß2.205 $ß715 $ß2.000 $ß642
Years ended December 31 (millions) 2 0 11 2010
Dividends declared in Dividends declared in
Prior Current Prior Current
fiscal year fiscal year Total fiscal year fiscal year Total
Common Share and Non-Voting Share dividends
Payable, beginning of period $ß169 $ß – $ß169 $ß150 $ß – $ß150
Declared n.a. 715 715 n.a. 642 642
Paid in cash (115) (527) (642) (129) (344) (473)
Reinvested in Non-Voting Shares
issued from Treasury (54) – (54) (21) (129) (150)
Payable, end of period $ß – $ß188 $ß188 $ß – $ß169 $ß169
On February 8, 2012, the Board of Directors declared a quarterly
dividend of $0.58 per share on the issued and outstanding Common
Shares and Non-Voting Shares of the Company payable on April 2, 2012,
to holders of record at the close of business on March 9, 2012. The final
amount of the dividend payment depends upon the number of Common
Shares and Non-Voting Shares issued and outstanding at the close of
business on March 9, 2012.
On February 21, 2012, the Board of Directors declared a quarterly
dividend of $0.61 per share on the issued and outstanding Common
Shares and Non-Voting Shares of the Company, payable on July 3, 2012,
to holders of record at the close of business on June 8, 2012. In the
event that the proposed share conversion of Non-Voting Shares to
Common Shares on a one-for-one basis receives all requisite approvals
(see Note 21(a)) and is effective prior to the dividend record date of
June 8, 2012, holders of record on such date who previously held Non-
Voting Shares would hold Common Shares and would therefore receive
the same dividend as all other holders of Common Shares.
(b) Dividend Reinvestment and Share Purchase Plan
General
The Company has a Dividend Reinvestment and Share Purchase Plan
under which eligible holders of Common Shares and Non-Voting Shares
may acquire Non-Voting Shares through the reinvestment of dividends
and by making additional optional cash payments to the trustee. Under
this Plan, the Company has the option of offering shares from Treasury
or having the trustee acquire shares in the stock market.
Reinvestment of dividends
The Company, at its discretion, may offer the Non-Voting Shares at up to
a 5% discount from the market price. In respect of dividends reinvested
during the three-month period ended March 31, 2011, the Company issued
Non-Voting Shares from Treasury at a discount of 3%. The Company
opted to have the trustee acquire the Non-Voting Shares in the stock
market commencing March 1, 2011, with no discount. In respect of
Common Share and Non-Voting Share dividends declared during the
year ended December 31, 2011, $34 million (2010 – $183 million) was
to be reinvested in Non-Voting Shares.
Optional cash payments
Shares purchased through optional cash payments are subject to a
minimum investment of $100 per transaction and a maximum investment
of $20,000 per calendar year.