TELUS President and CEO Darren Entwistle has reaffirmed his commitment to TELUS’ success by making significant share purchases this year. Since the beginning of the year through October 2023, he purchased 395,843 common shares for an aggregate purchase cost of approximately $10 million. Darren now holds a total of 800,000+ TELUS common shares.
Investing significantly in TELUS shares is consistent with Darren’s past practice of aligning his interests with those of TELUS' close to 1.2 million shareholders. Moreover, it demonstrates his continued strong confidence in the Company's strategy and global industry-best differentiated growth profile buttressed by strong operating momentum across its telecom business, and further supported through its investments in TELUS International, TELUS Health and TELUS Agriculture & Consumer Goods. Further reflecting Darren’s firm belief in the financial and operational health of the TELUS organization, enabled through the skill of the TELUS team, Darren took his salary in shares for six consecutive years from 2009 through 2015.
TELUS released its third quarter operational and financial results on November 3, 2023, showcasing the Company's continued strong performance including in its core telecom business. The results highlighted TELUS' globally leading broadband networks and customer-centric culture, which contributed to its best third quarter on record for customer growth. This growth was driven by the strong demand for TELUS' leading portfolio across Mobility and Fixed services. The Company's strong financial position, supported by a robust balance sheet, was further strengthened by significant cost efficiency efforts. These efforts aimed to drive EBITDA expansion, margin accretion, and accelerated cash flow growth. As a result, TELUS demonstrated its ability to deliver on its leading dividend growth program, which is now in its thirteenth year and has been extended through to the end of 2025. This extension reflects the confidence of Darren and the team’s ability to execute the Company's growth strategy on a global scale. Furthermore, TELUS' performance highlights its commitment to driving meaningful and sustainable free cash flow growth while unlocking transformational benefits for all stakeholders. Since 2004, TELUS has returned more than $24 billion to shareholders, including over $19 billion in dividends, representing approximately $17 per share overall.
