RCI Buyback

Rogers Communications Inc. Buyback

OLI recorded this information on 4/18/2019

Company:

Rogers Communications Inc.

Buyback:

RCI buyback

Share Amount Authorized:

35,758,662

Buyback Details:

Rogers Communications Inc. ("Rogers") announced today that the Toronto Stock Exchange ("TSX") has accepted a notice filed by Rogers of its intention to commence a normal course issuer bid ("NCIB") for its Class B Non-Voting shares ("Class B shares") (TSX:RCI.B.CA). The Board of Directors of Rogers has authorized such share repurchases because it believes that, at certain times, the purchase of Class B shares may represent an appropriate and desirable use of Rogers' available funds when, if in the opinion of management, the value of the Class B shares exceeds the trading price of such shares. Such purchases would provide additional liquidity to shareholders and benefit the remaining shareholders by increasing their proportionate equity interest in Rogers. Under the NCIB, Rogers may, during the twelve month period commencing April 24, 2019 and ending April 23, 2020, purchase on the TSX, the New York Stock Exchange, other designated exchanges and/or alternative trading systems the lesser of 35,758,662 Class B shares, representing approximately 10% of the public float of the Class B shares, and that number of Class B shares that can be purchased under the NCIB for an aggregate purchase price of $500 million. The actual number of Class B shares purchased, if any, and the timing of such purchases will be determined by Rogers, considering market conditions, stock prices, its cash position, and other factors. As at April 16, 2019 there were 401,493,541 Class B shares issued and outstanding and the public float consisted of 357,586,629 Class B shares.

Rogers Communications is a technology and media company. Co. has three segments: Wireless, which includes wireless telecommunications operations for Canadian consumers and businesses; Cable, which includes cable telecommunications operations, including Internet, television, telephony (phone), and smart home monitoring services for Canadian consumers and businesses, and network connectivity through its fiber network and data center assets to support a range of voice, data, networking, hosting, and cloud-based services; and Media, which is a portfolio of media properties, including sports media and entertainment, television and radio broadcasting, multi-platform shopping, and digital media.

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RCI — Key Stats (updated 4 hours, 42 minutes ago)

Company Name:	Rogers Communications Inc
Stock buyback:	RCI buyback
Website:	www.rogers.com
Sector:	Communications Services
Number of ETFs Holding RCI:	5
Total Market Value Held by ETFs:	$97.23M
Total Market Capitalization:	$15.40B
% of Market Cap. Held by ETFs:	0.63%

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Rogers Communications Inc. Buyback

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