TELUS announced that its Board of Directors has approved a two-for-one stock split of the company’s outstanding common shares. Upon completion, the number of shares outstanding will double to approximately 653.6 million.
On April 16, 2013, TELUS shareholders will receive one additional share for each share owned on the record date of April 15, 2013, subject to completion and approval of regulatory filings with the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE). TELUS common shares after the stock split are expected to commence trading on or about April 17, 2013 on the TSX and the NYSE.
Darren Entwistle, President and CEO, said “This two-for-one stock split builds on TELUS’ excellent track record in respect of shareholder friendly initiatives. Notably, it will enhance our share trading liquidity and improve the affordability of our shares for retail investors.”