Welcome to our dedicated page for Rogers Comm news (Ticker: RCI), a resource for investors and traders seeking the latest updates and insights on Rogers Comm stock.
Rogers Communications Inc. (RCI) is a pivotal force in Canada's telecommunications and media landscape. Established in 1960, Rogers has consistently introduced innovative technology, connecting millions of Canadians coast-to-coast. The company excels in providing wireless services, high-speed internet, cable television, and landline phone services.
With over 11 million wireless subscribers, Rogers is the largest wireless service provider in Canada, accounting for one-third of the total market. The wireless segment alone generates over half of Rogers' revenue, highlighting its critical role in the company's financial health. In recent years, Rogers has bolstered its revenue through the strategic acquisition of Shaw Communications, expanding its cable segment to cover 35% of total revenue.
Beyond telecommunications, Rogers has a significant footprint in the media sector. The company owns and operates numerous television and radio stations and is a noteworthy entity in Canadian sports. Rogers is the owner of the Toronto Blue Jays and holds stakes in several major sports teams, including the Toronto Maple Leafs, Raptors, FC, and Argonauts, underscoring its deep-rooted involvement in the Canadian sports scene.
Rogers’ commitment to innovation and customer satisfaction is reflected in its continuous advancement of network technology and expansion of service offerings. Notable recent achievements include the transition to 5G networks and the integration of home monitoring systems, further enhancing value for customers.
Financially, Rogers has demonstrated robust performance, recently reporting record results for 2023. This success was driven by the strong execution of the Shaw acquisition and industry-leading performance, making Rogers the preferred carrier for Canadians for the second consecutive year.
In terms of sustainability and social impact, Rogers remains proactive, as evidenced by its 2023 Sustainability and Social Impact Report. The company champions climate change initiatives and social responsibility, with leadership figures like Ms. Martha Rogers playing crucial roles in these endeavors.
Rogers continues to form strategic partnerships to extend its reach and enhance customer experience. A recent two-year agreement with Amazon and the NHL allows more fans to access live games across multiple devices, exemplifying Rogers' innovative approach to content distribution.
Rogers Communications (RCI) has announced the pricing of two major debt offerings: a US$2.1 billion U.S. public offering and a Cdn$1.0 billion Canadian private placement of fixed-to-fixed rate subordinated notes, both due 2055. The U.S. offering consists of US$1.1 billion at 7.0% and US$1.0 billion at 7.125%. The Canadian notes carry a 5.625% rate.
The net proceeds, approximately US$2.07 billion and Cdn$989 million respectively, will be used to repay existing debt and/or fund the acquisition of BCE Inc.'s indirect ownership stake in Maple Leaf Sports & Entertainment. Both offerings are expected to close on February 12, 2025.
Rogers Communications reported strong financial results for Q4 2024, with total revenue reaching $20.6 billion for the full year. The company achieved 623,000 combined mobile phone and Internet net additions in 2024, leading all Canadian carriers.
Q4 2024 highlights include a 2% increase in wireless service revenue and 6% growth in adjusted EBITDA. The company reported 95,000 net postpaid and prepaid phone additions, with stable blended ARPU at $58. Cable revenue showed slight positive growth with adjusted EBITDA up 5%, while Media revenue increased by 10%.
For 2025, Rogers provided guidance projecting 0-3% growth in both total service revenue and adjusted EBITDA, with capital expenditures of $3.8-4.0 billion and free cash flow of $3.0-3.2 billion. The company also announced an agreement to acquire Bell's 37.5% stake in MLSE for $4.7 billion and is working on a proposed $7 billion structured equity investment.
Rogers Communications (TSX: RCI.A, RCI.B; NYSE: RCI) has announced a quarterly dividend of 50 cents per share on its Class B Non-Voting shares and Class A Voting shares. The dividend will be paid on April 2, 2025, to shareholders of record as of March 10, 2025.
Shareholders can opt to reinvest their cash dividends in additional Class B Shares through Rogers' Amended and Restated Dividend Reinvestment Plan (Plan). For this quarterly dividend, Class B Shares will be issued from treasury at a 2% discount from the Average Market Price. The Plan's details are available on Rogers' investor relations website, through the Plan agent, and on regulatory platforms including SEDARPLUS and SEC.
Rogers (RCI) and the Toronto International Film Festival (TIFF) have announced a three-year partnership extension through 2027, with Rogers continuing as the official Presenting Partner and sponsor of the People's Choice Award. The agreement follows TIFF's successful 2024 edition, which attracted 700,000 attendees.
The partnership includes several new initiatives: Rogers will create an original content series with TIFF's Studio 9 production team and produce a 50th edition TV special for Citytv. Rogers customers will receive exclusive access to VIP red carpet experiences through Rogers Beyond the Seat program. The 50th edition of TIFF will run from September 4-14, 2025.
Rogers Communications has announced its upcoming fourth quarter financial results release scheduled for January 30, 2025. The company has revised its 2024 service revenue guidance to just over 7%, down from the previously forecasted 8-10% range, citing weakness in media revenue during Q4. All other guidance metrics remain unchanged.
The Q4 results and 2025 outlook will be released before North American markets open on January 30, followed by a management teleconference with investors at 8:00 a.m. ET. CEO Tony Staffieri noted that while media revenue was softer than expected in Q4, the company maintained industry-leading execution throughout the year.
Rogers Communications has received clearance from the Competition Bureau to proceed with its acquisition of Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. The Competition Bureau issued a 'no-action letter' on December 12, 2024, indicating it won't challenge the acquisition. The deal still requires league approvals and CRTC approval. Upon completion, Rogers will become the majority owner of MLSE, which is described as one of the most prestigious sports and entertainment organizations globally. The acquisition aligns with Rogers' core business strategy focusing on live sports and entertainment.
Rogers has achieved a significant milestone as its net-zero greenhouse gas emissions targets received approval from the Science Based Targets initiative (SBTi), becoming the first national carrier in Canada to achieve this recognition. The company has already reduced scope 1 and 2 GHG emissions by 33% since 2019. Their action plan focuses on four key areas: increasing energy efficiencies, transitioning to electric fleet, expanding renewable energy, and engaging suppliers. Rogers aims to reduce absolute scope 1 and 2 emissions by 50% by 2030 and achieve net-zero emissions across all scopes by 2050, while ensuring 80% of suppliers set science-based targets by 2029.
Rogers Communications has declared a quarterly dividend of 50 cents per share on its Class B Non-Voting shares and Class A Voting shares. The dividend will be paid on January 3, 2025 to shareholders of record on December 9, 2024. Shareholders can reinvest their cash dividends in additional Class B Shares through the company's Dividend Reinvestment Plan, with shares being issued from treasury at a 2% discount from the Average Market Price.
Rogers Communications reported strong Q3 2024 results with 227,000 combined mobile phone and Internet net additions. Total service revenue grew 1% to $4.57B, while adjusted EBITDA increased 6% to $2.55B. The company achieved record margins in Cable and Wireless, with Wireless service revenue up 2% and Cable adjusted EBITDA up 5%. Free cash flow rose 23% to $915M. Rogers announced a $7B structured equity financing deal to reduce leverage, expecting year-end leverage at 3.7x. The company reaffirmed its 2024 outlook, projecting 8-10% total service revenue growth and 12-15% adjusted EBITDA growth.
Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) has announced its plans to release third quarter 2024 financial results on Thursday, October 24, 2024, before North American markets open. The company will host a teleconference with the investment community at 8:00 a.m. ET to discuss the results and outlook.
Investors can access the live webcast on the Investor Relations section of Rogers' website at investors.rogers.com. Alternatively, they can dial in at 416-639-5883 (1-844-282-4459 toll-free for North America) using passcode 3793238#. An archive of the presentation will be available on the website, and a telephonic re-broadcast will be accessible for two weeks following the teleconference.
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