Last $40.79 USD
Change Today -0.29 / -0.71%
Volume 316.9K
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As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

rogers communications inc-b (RCI) Key Developments

Rogers Communications Inc. Declares Quarterly Dividend, Payable on October 1, 2014

Rogers Communications Inc. announced that its Board of Directors declared a quarterly dividend totalling 45.75 cents per share on each of its outstanding Class B Non-Voting shares and Class A Voting shares. The quarterly dividend declared will be paid on October 1, 2014 to shareholders of record on September 12, 2014.

Rogers and WWE Announce Television and WWE Network Agreement

Rogers Communications and WWE announced a historic 10-year broadcast and multimedia agreement, making Rogers the exclusive distributor of WWE's programming in Canada through 2024. The deal extends WWE's current programming on Sportsnet 360 and includes the right to distribute WWE Network as a premium linear channel, with a preview beginning August 12. Rogers will be the exclusive distribution partner of all WWE pay-per-view events throughout Canada and will sponsor an application to the CRTC to bring the popular WWE Network to Canada. Starting August 12, a preview of WWE Network content, including live WWE pay-per-view events, groundbreaking original series, live in-ring action, reality shows and a video-on-demand library, will be available on a subscription basis on Rogers Channel 512. Rogers will offer this WWE Network content preview subscription to all cable, satellite and IPTV providers across Canada.

Rogers Communications and GLENTEL Renew Multi-Year Agreement

Rogers Communications and GLENTEL jointly announced that they will extend their multi-year agreement to offer Rogers products and services in GLENTEL's 485 retail locations across Canada, such as WIRELESSWAVE, Tbooth wireless, WIRELESS etc., Target Mobile, and more.

Rogers Communications Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter Ended June 30, 2014; Reiterates Consolidated Earnings Guidance for the Full Year of 2014

Rogers Communications Inc. announced unaudited consolidated financial results for the second quarter ended June 30, 2014. For the quarter, the company reported operating revenue of $3,212 million against $3,212 million for the same period a year ago. Income before income taxes was $543 million against $703 million a year ago. Net income was $405 million or $0.76 diluted per share against $532 million or $0.93 diluted per share a year ago. Cash provided by operating activities was $1,202 million against $1,061 million a year ago. Property, plant and equipment expenditures were $576 million against $525 million a year ago. Adjusted operating profit was $1,313 million against $1,306 million a year ago. Free cash flow was $436 million against $505 million a year ago. Adjusted net income was $432 million or $0.84 diluted per share against $497 million or $0.96 diluted per share a year ago. Free cash flow for the quarter was impacted by the timing of CapEx investments. For six months, the company reported operating revenue of $6,232 million against $6,239 million for the same period a year ago. Income before income taxes was $956 million against $1,194 million a year ago. Net income was $712 million or $1.33 diluted per share against $885 million or $1.69 diluted per share a year ago. Cash provided by operating activities was $1,610 million against $1,866 million a year ago. Property, plant and equipment expenditures were $1,064 million against $989 million a year ago. Adjusted operating profit was $2,474 million against $2,485 million a year ago. Free cash flow was $792 million against $933 million a year ago. Adjusted net income was $772 million or $1.49 diluted per share against $911 million or $1.76 diluted per share a year ago. The company reiterated earnings guidance on a consolidated basis for the metrics it provided, which include adjusted operating profit for the full year of 2014, and intends to hit that guidance.

Rogers Seeks Acquisitions

Rogers Communications Inc. (TSX:RCI.B) is looking for acquisition opportunities. Tony Staffieri, Chief Financial Officer of Rogers said, “Rogers will look at all opportunities but sees little advantage putting its office space up for sale.”

 

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