Rogers Comm - RCI STOCK NEWS

Rogers Communications has declared a quarterly dividend of 50 cents per share on its Class B Non-Voting shares and Class A Voting shares, as announced on April 26, 2023. The dividend will be paid on July 5, 2023, to shareholders who are on record as of June 9, 2023. The Board of Directors will determine future dividend payments, emphasizing that dividends are only payable when declared.

Rogers is a prominent Canadian technology and media company offering communications services and entertainment to both consumers and businesses. The company's shares are traded on the Toronto Stock Exchange under the symbols RCI.A and RCI.B, as well as on the New York Stock Exchange as RCI.

Rogers Communications has announced plans to enhance the Toronto subway system by acquiring BAI Communications’ operations in Canada, allowing Rogers to provide full 5G connectivity throughout the subway. With this move, all TTC riders will soon have access to 911 services and additional wireless services across all subway stations and tunnels. The rollout is expected to take two years due to limited construction hours. Rogers aims to modernize the network and improve cellular capacity, transitioning from 3G and 4G to a comprehensive 5G network.

This investment underscores Rogers’ commitment to expanding connectivity for Torontonians, with seamless mobile voice and data services expected to benefit millions of riders. The acquisition is anticipated to close within two weeks, pending regulatory conditions.

Rogers Communications has successfully completed its merger with Shaw Communications, creating a unified national cable, media, and wireless company in Canada. This merger aims to enhance service delivery, innovation, and connectivity, while unlocking billions in investments that benefit Canadians. With over $40 billion invested in networks over the past decade, the combined entity will improve access to high-quality networks, particularly in rural and underserved areas. The Shaw family becomes a major shareholder, and the merger is projected to generate significant economic growth, adding $7 billion in GDP over the next five years and creating 3,000 jobs.

Rogers Communications and Shaw Communications have announced an extension to the outside closing date of their merger to April 7, 2023, following final regulatory approvals. The merger aims to enhance network coverage, particularly for underserved communities in Canada, and includes a commitment to invest $1 billion in rural connectivity and $2.5 billion to upgrade the 5G network. The merger is designed to improve operational scale, with a total of $40 billion invested by both companies over the past decade. Rogers will amalgamate with Shaw post-merger, with Shaw's shares being delisted.

On March 31, 2023, Rogers Communications provided an update on its 2023 financial guidance due to the anticipated acquisition of Shaw Communications. Key metrics show a forecasted total service revenue increase of 26% to 30%, an adjusted EBITDA increase of 31% to 35%, and capital expenditures revised to $3,700 to $3,900 million. Free cash flow guidance remains at $2,000 to $2,200 million. The updated guidance incorporates the Shaw Transaction and reflects expectations grounded in previous performance metrics. Rogers warns of potential risks affecting these projections, including regulatory changes and integration challenges.

Rogers Communications Inc. will release its first quarter 2023 financial results on April 26, 2023, before North American markets open. The results will be available via newswire and on investors.rogers.com. A teleconference will follow at 8:00 a.m. ET to discuss the results.

The meeting will be accessible via webcast and phone. Additionally, Rogers will host its Annual General Meeting on the same date at 11:00 a.m. ET, offering both in-person and online participation.

Rogers Communications has filed its 2022 annual report with Canadian and U.S. securities regulators, detailing audited financial statements and management discussions.

The report is accessible on sedar.com, sec.gov, and the Investor Relations section of Rogers’ website. Shareholders can request paper copies at no cost.

The company will hold its Annual General Meeting on April 26, 2023, at 11:00 AM ET, which will be a hybrid meeting at Velma Rogers Graham Theatre, Toronto, and via webcast.

Rogers is a major Canadian technology and media entity, with shares traded on TSX and NYSE under the ticker RCI.A and RCI.B.

Rogers Communications, Shaw Communications, and Quebecor have announced an extension of the proposed merger’s outside date to March 31, 2023. The companies are working with Innovation, Science and Economic Development Canada (ISED) to secure approval for the transfer of spectrum licenses from Shaw to Videotron, which is essential for the merger to proceed.

The merger has already received the approval of Shaw's common shareholders, the Court of King’s Bench of Alberta, and the Canadian Radio-television and Telecommunications Commission. Furthermore, the Federal Court of Appeal dismissed a challenge from the Commissioner of Competition, reinforcing the merger's viability.