TELUS (TU) Amends Dividend Reinvestment Program

November 6, 2009 4:27 PM EST

TELUS (NYSE: TU) announced that effective December 1, 2009 it will issue non-voting shares from treasury at a 3% discount from the average market price for shares acquired on a reinvestment of dividends. These changes will apply to the dividends payable on January 4, 2010 to common and non-voting shareholders of record on December 11, 2009. Non-voting shares acquired with optional cash payments will be issued from treasury at 100% of the average market price.

Under the plan, common and non-voting shareholders who reside in Canada and in the United States may elect to have the dividends paid on their shares reinvested in non-voting shares of TELUS. Under applicable United States securities laws, TELUS today filed with the United States Securities and Exchange Commission a registration statement on Form F-3, including a prospectus, in connection with the plan. Holders of common shares or non-voting shares residing outside of Canada or the United States may be eligible to participate in the plan, subject to proof of compliance with any restrictions in the laws of their country.

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