Telus Corp.
Toronto symbol T.A, provides local and long distance telephone service in B.C., Alberta and parts of Quebec, and wireless service across Canada.
TELUS CORP. (Toronto symbols T $68 and T.A $68; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 326.0 million; Market cap: $22.2 billion; Price-to-sales ratio: 2.0; Dividend yield: 3.6%; TSINetwork Rating: Above Average; www.telus.com) has received court approval for its plan to convert its 151 million non-voting class A shares into regular common shares (which have one vote each) on a one-for-one basis.
The company converted the shares in the U.S....
The company converted the shares in the U.S....
Most stock markets have risen lately. But as always, they remain subject to unexpected downturns. Even so, we feel the long-term outlook is for higher stock prices. One way to profit from rising markets is to add exchange traded funds (ETFs) that track major stock indexes to your portfolio. ETFs trade on stock exchanges, just like stocks. Prices are quoted in newspaper stock tables and online. You must pay brokerage commissions to buy and sell ETFs, but their low management fees still give them a cost advantage over most mutual funds....
Most stock markets have risen lately. But as always, they remain subject to unexpected downturns. Even so, the long-term outlook is for higher stock prices.
One way to profit from rising markets is to add exchange traded funds (ETFs) that track major stock indexes to your portfolio.
ETFs trade on stock exchanges, just like stocks....
One way to profit from rising markets is to add exchange traded funds (ETFs) that track major stock indexes to your portfolio.
ETFs trade on stock exchanges, just like stocks....
TELUS $64.54 (Toronto symbol T.A; Sharesoutstanding: 324.9 million; Market cap: $21.0billion; TSINetwork Rating: Above Average;Dividend yield: 4.0%; www.telus.com) hasreceived approval from the B.C. Supreme Courtto convert its 151 million non-voting class Ashares into regular common shares (which haveone vote each) on a one-for-one basis.Shareholders have already approved the plan.
The plan will dilute common shareholders’voting power. However, it will let the commonshares trade on the New York Stock Exchange;right now, only the non-voting shares trade onNew York. That should make the commonshares more liquid.
The company will probably complete theconversion in January 2013. Until then, thenon-voting shares will likely trade at a slightdiscount to the common shares, even thoughthey receive identical dividends.
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The plan will dilute common shareholders’voting power. However, it will let the commonshares trade on the New York Stock Exchange;right now, only the non-voting shares trade onNew York. That should make the commonshares more liquid.
The company will probably complete theconversion in January 2013. Until then, thenon-voting shares will likely trade at a slightdiscount to the common shares, even thoughthey receive identical dividends.
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TELUS $64.54 (Toronto symbol T.A; Sharesoutstanding: 324.9 million; Market cap: $21.0billion; TSINetwork Rating: Above Average;Dividend yield: 4.0%; www.telus.com) hasreceived approval from the B.C. Supreme Courtto convert its 151 million non-voting class Ashares into regular common shares (which haveone vote each) on a one-for-one basis.Shareholders have already approved the plan.
The plan will dilute common shareholders’voting power....
The plan will dilute common shareholders’voting power....
TELUS CORP. (Toronto symbols T $65 and T.A $65; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 325.8 million; Market cap: $21.2 billion; Price-to-sales ratio: 2.0; Dividend yield: 3.9%; TSINetwork Rating: Above Average; www.telus.com) recently received shareholder approval for its plan to convert its 151 million non-voting class A shares into regular common shares (one vote per share) on a one-for-one basis. The B.C. Supreme Court must still approve this move, probably in early 2013.
Telus also reported that non-Canadian investors now own about 15% of its common shares, down from 33% six months ago. It’s likely that U.S.-based hedge fund Mason Capital, which opposes the conversion plan, has cut its 18.7% stake. This drop also makes it easier for Telus to attract more non-Canadian investors without violating Ottawa’s foreign ownership limits on phone companies.
Even though they receive identical dividends and have similar liquidity, the non-voting shares are usually cheaper than the common shares.
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Telus also reported that non-Canadian investors now own about 15% of its common shares, down from 33% six months ago. It’s likely that U.S.-based hedge fund Mason Capital, which opposes the conversion plan, has cut its 18.7% stake. This drop also makes it easier for Telus to attract more non-Canadian investors without violating Ottawa’s foreign ownership limits on phone companies.
Even though they receive identical dividends and have similar liquidity, the non-voting shares are usually cheaper than the common shares.
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PLEASE NOTE: This is our last Hotline for 2012. Our next Hotline will go out on Friday, January 4, 2013. RESEARCH IN MOTION LTD., $10.86, Toronto symbol RIM, reported a lower-than-expected loss in its latest quarter. Its revenue matched the consensus estimate. However, due to its falling share of the smartphone market, RIM has had to cut the fees it charges wireless carriers to use its proprietary messaging network. RIM earns higher profits from this service than selling hardware, so lower fees will hurt its profitability. That’s why the stock fell 22% today....
TELUS CORP. (Toronto symbols T $65 and T.A $65; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 325.8 million; Market cap: $21.2 billion; Price-to-sales ratio: 2.0; Dividend yield: 3.9%; TSINetwork Rating: Above Average; www.telus.com) recently received shareholder approval for its plan to convert its 151 million non-voting class A shares into regular common shares (one vote per share) on a one-for-one basis. The B.C. Supreme Court must still approve this move, probably in early 2013. Telus also reported that non-Canadian investors now own about 15% of its common shares, down from 33% six months ago. It’s likely that U.S.-based hedge fund Mason Capital, which opposes the conversion plan, has cut its 18.7% stake. This drop also makes it easier for Telus to attract more non-Canadian investors without violating Ottawa’s foreign ownership limits on phone companies. Even though they receive identical dividends and have similar liquidity, the non-voting shares are usually cheaper than the common shares....
TELUS $64.23 (Toronto symbol T.A; Shares outstanding: 324.9 million; Market cap: $20.9 billion; TSINetwork Rating: Above Average; Dividend yield: 3.8%; www.telus.com) has received shareholder approval for its plan to convert its 151 million non-voting class A shares into regular common shares (with one vote each) on a one-for-one basis. Following the conversion, Telus will have 326 million common shares outstanding. The B.C. Supreme Court must still approve the plan. A hearing is set for November 5, 2012. However, U.S.-based hedge fund Mason Capital, which now owns around 19% of Telus’s common shares and a small portion of the non-voting stock, will try to block the conversion. Mason feels that common shareholders should receive compensation in exchange for the dilution of their voting power. Even though they receive identical dividends and have similar liquidity, the non-voting shares are typically cheaper than the common shares....
ISHARES DOW JONES CANADA SELECT DIVIDEND INDEX FUND $20.77 (Toronto symbol XDV; buy or sell through brokers; ca.ishares.com) holds 30 of the highest-yielding Canadian stocks. Its selections are based on dividend growth, yield and payout ratio. The weight of any one stock is limited to 10% of its assets. The fund’s MER is 0.50%. It yields 4.6%.
The fund’s top holdings are CIBC, 7.1%; National Bank, 5.8%; TD Bank, 5.6%; Bank of Montreal, 5.3%; Bonterra Energy, 4.8%; Royal Bank, 4.6%; Telus Corp., 4.6%; Bank of Nova Scotia, 4.3%; BCE Inc., 4.1%; and AG Growth International, 4.0%.
The fund holds 54.4% of its assets in financial stocks. Utilities are next, at 21.2%. The top Canadian finance stocks have sound prospects. However, if you invest in this ETF, be sure to adjust the rest of your portfolio so it won’t be overly concentrated in the financial sector.
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The fund’s top holdings are CIBC, 7.1%; National Bank, 5.8%; TD Bank, 5.6%; Bank of Montreal, 5.3%; Bonterra Energy, 4.8%; Royal Bank, 4.6%; Telus Corp., 4.6%; Bank of Nova Scotia, 4.3%; BCE Inc., 4.1%; and AG Growth International, 4.0%.
The fund holds 54.4% of its assets in financial stocks. Utilities are next, at 21.2%. The top Canadian finance stocks have sound prospects. However, if you invest in this ETF, be sure to adjust the rest of your portfolio so it won’t be overly concentrated in the financial sector.
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