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Rogers Communications, Inc. - RCI STOCK NEWS

Welcome to our dedicated page for Rogers Communications news (Ticker: RCI), a resource for investors and traders seeking the latest updates and insights on Rogers Communications 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.

News

Rogers Communications Inc. Announces Pricing of US$2.5 billion Offering of US Dollar Senior Notes

Rhea-AI Summary
Rogers Communications Inc. (RCI) has priced a public offering of two series of US dollar senior notes with an aggregate principal amount of US$2.5 billion. The net proceeds will be approximately US$2.46 billion, which RCI plans to use to repay certain outstanding indebtedness, including borrowings used to fund its acquisition of Shaw Communications Inc. The sale of the Notes is expected to close on February 9, 2024. The Notes will be issued pursuant to a prospectus supplement and accompanying prospectus filed with the SEC as part of an effective shelf registration statement on Form F-10.
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Rogers Communications Declares 50 Cents per Share Quarterly Dividend

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Rogers Communications Inc. declares a quarterly dividend totaling 50 cents per share on each of its outstanding Class B Non-Voting shares and Class A Voting shares. The Quarterly Dividend will be paid on April 3, 2024, to shareholders of record on March 11, 2024. Shareholders can elect to have cash dividends reinvested in additional Class B Shares at a 2% discount from the Average Market Price.
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Rogers Communications Reports Fourth Quarter 2023 Results; Announces 2024 Financial Guidance

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Rogers Communications Inc. reports record 2023 results driven by a strong execution on Shaw acquisition and industry-leading performance. The service revenue was $16.8 billion, up 27%, with adjusted EBITDA of $8.6 billion, up 34%, and free cash flow of $2.4 billion, up 36%. The company ended the year with 11.6 million wireless customers and 4.2 million retail Internet customers. Q4 results reflect industry-leading growth in Wireless and Cable operations, with total service revenue up 30% and adjusted EBITDA up 39%. The company also launched transformative firsts in technology for Canadians, including agreements for satellite-to-mobile coverage with SpaceX and Lynk Global, satellite-connected wildfire sensors and AI cameras connected to Rogers' 5G network for early wildfire detection, and essential 5G cellular connectivity on Highway 16 in B.C. The company also substantially reduced its debt leverage ratio to 4.7 times at year-end, down over half a turn on synergy cost reductions, earnings growth, proceeds from asset sales, and commencing the payback of acquisition-related debt. The company delivered on 2023 financial guidance with 2024 guidance targets robust growth, including total service revenue growth range of 8% to 10%, adjusted EBITDA growth range of 12% to 15%, capital expenditures of $3.8 billion to $4.0 billion, and free cash flow of $2.9 billion to $3.1 billion, compared to $2.4 billion in 2023.
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Rogers Communications Announces Board of Director Changes

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Rogers Communications announces the retirement of Melinda Rogers-Hixon and Martha Rogers from the board of directors as part of a private settlement between members of the Rogers family. The decision is described as a result of family differences being settled. The company expresses gratitude for their contributions and dedication, emphasizing their integral role in the company's growth. Melinda Rogers-Hixon and Martha Rogers, in their statements, express pride and commitment as shareholders and their support for the company's future success. The press release also provides background information on the roles and contributions of both retiring board members.
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Professional Women's Hockey League and Rogers Announce Strategic Partnership

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Rogers Communications (RCI) partners with the Professional Women’s Hockey League (PWHL) to become the official telecommunications partner in Canada. The multi-year agreement will see Sportsnet broadcast 17 PWHL games on TV and Sportsnet+ in 2024. Rogers aims to support the growth of women’s hockey in Canada, bringing fans closer to the action with live games, behind-the-scenes content, and unique fan experiences. The partnership also includes empowering the next generation of young players and creating once-in-a-lifetime experiences for girls in local minor hockey programs.
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Rogers Communications 4Q23 Investment Community Teleconference February 1, 2024 at 8:00 a.m. ET

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Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) plans to release its fourth quarter 2023 financial results on Thursday, February 1, 2024, before North American financial markets open. The results will be distributed by newswire and posted at investors.rogers.com. Rogers’ management will host its quarterly teleconference with the investment community to discuss the results and outlook at 8:00 a.m. ET.
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Rogers Accelerates De-Leveraging Plans With Private Sale of Cogeco Shares

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Rogers Communications (Rogers) has announced the sale of all its shares of Cogeco to Caisse de dépôt et placement du Québec in a private transaction for $829 million. The sale is part of the company's efforts to reduce its debt leverage ratio, with the expectation of achieving a ratio of 4.7x by year-end, ahead of the previously expected 4.8x. This sale is a significant step in Rogers' deleveraging plans, following the divestiture of $1 billion in non-core assets. President and CEO Tony Staffieri emphasized the company's commitment to strengthening its investment grade balance sheet and reducing debt leverage further.
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Rogers Acquires 3800 MHz 5G Spectrum Across Canada

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Rogers Communications (RCI) invests $475M in Canada’s National 5G Network, acquiring 3800 MHz in the third 5G spectrum auction to enhance coverage, speed, and capacity.
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Rogers Communications Declares 50 Cents per Share Quarterly Dividend

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Rogers Communications Inc. (RCI) declares a 50 cents per share quarterly dividend for its Class B Non-Voting and Class A Voting shares, payable on January 2, 2024, to shareholders of record on December 8, 2023. Shareholders can opt to reinvest cash dividends in additional Class B Shares at a 2% discount from the Average Market Price under the Amended and Restated Dividend Reinvestment Plan.
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Rogers Communications Reports Third Quarter 2023 Results

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Rogers Communications Inc. announces strong Q3 results with record wireless net loading and market share gains, achieving 52% adjusted EBITDA growth and $188 million synergies realized year to date.
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FAQ

What is the current stock price of Rogers Communications (RCI)?

The current stock price of Rogers Communications (RCI) is $35.75 as of November 15, 2024.

What is the market cap of Rogers Communications (RCI)?

The market cap of Rogers Communications (RCI) is approximately 19.2B.

What services does Rogers Communications Inc. provide?

Rogers offers wireless services, high-speed internet, cable television, and landline phone services.

How many wireless subscribers does Rogers have?

Rogers is the largest wireless service provider in Canada with over 11 million subscribers.

What recent achievements has Rogers Communications reported?

Rogers reported record results for 2023, driven by the successful acquisition of Shaw and strong operational performance.

What are some key financial aspects of Rogers Communications?

Rogers’ wireless segment generates over half of its revenue, and the cable segment, bolstered by the Shaw acquisition, contributes about 35%.

What sports teams is Rogers Communications associated with?

Rogers owns the Toronto Blue Jays and holds stakes in the Toronto Maple Leafs, Raptors, FC, and Argonauts.

What strategic partnerships has Rogers recently formed?

Rogers has a two-year agreement with Amazon and the NHL to bring live games to more fans across multiple devices.

How is Rogers contributing to sustainability?

Rogers' 2023 Sustainability and Social Impact Report highlights its commitment to climate change initiatives and social responsibility.

What is Rogers Communications’ role in Canadian media?

Rogers owns and operates various television and radio stations and provides extensive coverage of major sports events.

When was Rogers Communications founded?

Rogers Communications was founded in 1960.

Who are key figures in Rogers Communications’ leadership?

Important figures include Edward Rogers, Chair of Rogers Communications, and Ms. Martha Rogers, who has been a strong advocate for social and environmental initiatives.

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Rogers Communications, Inc.

NYSE:RCI

RCI Rankings

#562 Ranked by Market Cap
#499 Ranked by Dividends

RCI Stock Data

19.18B
423.32M
11.25%
62.19%
0.78%
Telecom Services
Communication Services
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United States of America
Toronto