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 Inc. and Shaw Communications Inc. have agreed to postpone the closing of their proposed merger until they reach a settlement with the Commissioner of Competition or the Tribunal rules on their case. The companies are focused on divesting Shaw's wireless business as part of the merger process. They assert that the merger will enhance infrastructure investments, create jobs, and improve competition in Canada. The merger has received shareholder and court approvals, yet remains subject to further regulatory approvals.
Rogers Communications and Shaw Communications have been notified of the Commissioner of Competition's intent to oppose their merger. To alleviate concerns about market competitiveness, they are engaged in selling Shaw’s Freedom Mobile. The companies assert the merger will benefit Canadians through investments in digital infrastructure, including a $2.5 billion commitment to 5G and a $1 billion connectivity fund. The transaction remains subject to regulatory approvals and has received support from Shaw's shareholders and the CRTC.
Rogers Communications announced the results from its Annual General Meeting held on April 20, 2022. Shareholders overwhelmingly approved all proposed items, including appointing KPMG LLP as auditors and electing all proposed directors. A total of 108,640,213 Class A shares, representing 97.74% of voting stock, participated in the director elections. Notable votes included Jack L. Cockwell and Ivan Fecan, who received 99.990% support. The auditors, KPMG LLP, were appointed with 99.995% approval from 108,668,529 shares.
Rogers Communications Inc. has declared a quarterly dividend of 50 cents per share for its Class B Non-Voting and Class A Voting shares. The dividend will be paid on July 4, 2022, to shareholders who are on record as of June 10, 2022. This announcement reaffirms Rogers' commitment to distributing income to its shareholders. The company is a leading provider of communications and media services across Canada, publicly traded on both the Toronto Stock Exchange and the New York Stock Exchange.
Rogers Communications reported strong Q1 2022 results, with total service revenue rising 6% to CAD 3,196 million and adjusted EBITDA increasing 11% to CAD 1,539 million. The company added 66,000 net postpaid mobile phone subscribers, reducing churn to 0.71%. Full-year guidance has been raised, expecting service revenue growth of 6-8% and adjusted EBITDA growth of 8-10%. Free cash flow projections increased to between CAD 1.9 and 2.1 billion. The Shaw acquisition remains on schedule for Q2 2022, with regulatory approvals progressing.
Rogers Communications plans to release its Q1 2022 financial results on April 20, 2022, before North American markets open. Results will be disseminated via newswire and posted on investors.rogers.com. A teleconference to discuss results and outlook will start at 8:00 a.m. ET, accessible via webcast or by phone. Additionally, the company will hold its Annual General Meeting of Shareholders that day at 11:00 a.m. ET, which will also be virtual. For details, visit investors.rogers.com/corporate-governance/agm-materials.
Rogers Communications Inc. (RCI) has priced a private offering of senior notes totaling US$7.05 billion in US dollars and $4.25 billion in Canadian dollars. The offering consists of multiple series of senior notes, including 2.95% senior notes due 2025 and 5.25% senior notes due 2052. The net proceeds are expected to reach approximately US$6.95 billion and $4.22 billion, with funds allocated toward the cash consideration for the pending acquisition of Shaw Communications Inc. and associated expenses. The offerings are set to close on March 11, 2022.
Rogers Communications has filed its 2021 annual report with Canadian and U.S. securities regulators, featuring audited financial statements and management analysis. The report is accessible via the Canadian Securities Administrators and U.S. Securities and Exchange Commission websites, as well as Rogers’ Investor Relations page. Shareholders can request paper copies at no charge. The Annual General Meeting is scheduled for April 20, 2022, at 11:00 AM, and will be held virtually. Rogers continues to offer high-quality communication and media services across Canada.
Rogers Communications Inc. (RCI) has announced the pricing of a private offering of US$750 million 5.25% subordinated notes due 2082. The net proceeds, approximately US$740 million, will be used to repay certain senior notes and short-term borrowings related to the acquisition of 3500 MHz spectrum licenses in 2021. The offering is expected to close on February 11, 2022. The notes will not be registered under the Securities Act and are offered only to qualified institutional buyers and non-U.S. persons, complying with relevant regulations.
Rogers Communications reported solid operational improvements in Q4 2021, driven by a strong recovery in its Wireless segment, posting 141,000 new postpaid subscribers and a 6% rise in service revenue. Adjusted EBITDA grew 5% alongside a blended ARPU increase to $51.47. The Cable segment remained stable with 21,000 new broadband subscribers. Media revenue surged 26% due to live sports broadcasting. For 2022, revenue is expected to grow 4% to 6% and adjusted EBITDA 6% to 8%, with capital expenditures projected at $2.8 to $3.0 billion.
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