Friday, November 27, 2015
- Telus (TU +0.5%) says it intends to buy and cancel up to 3.75M common shares through private transactions.
- The purchases will be made with an arm's-length third party, and the shares will be counted toward the 16M common shares that the company is entitled to buy for cancellation under its 2016 normal course issuer bid.
- Purchases will come at a discount to share price on the Toronto Stock Exchange at the time of purchase.
- In setting its new repurchase program in September, the company says it's targeting an ongoing 10% annual dividend increase.
- Shares in the company are down 13% YTD.
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