TELUS Corporation announced that it has determined the redemption price for its $700 million in 4.95%, Series CF, notes due May 15, 2014 (CUSIP No. 87971MAJ2). The early redemption notice for these notes was previously announced on April 1, 2013. The redemption price, which is payable on May 15, 2013, is based on the yield for a Government of Canada bond with the equivalent maturity plus 71 basis points as defined in the Trust Indenture governing these notes. The note-holders will also receive the regularly scheduled semi-annual interest payment on May 15, 2013. The following is the redemption price and amount per CAD 1,000 of principal amount for these Notes: redemption price is CAD 1,031.58, accrued and unpaid interest is CAD 24.75 and the total redemption amount is CAD 1,056.33.

TELUS Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported operating revenues of CAD 2,756 million against CAD 2,631 million a year ago. EBITDA was CAD 1,034 million against CAD 981 million a year ago. Net income was CAD 362 million against CAD 319 million a year ago. Earnings per basic share were CAD 0.56 against CAD 0.49 a year ago. Capital expenditures were CAD 467 million against CAD 441 million a year ago. Free cash flow was CAD 358 million against CAD 358 million a year ago. Free cash flow before income taxes was CAD 506 million against CAD 406 million a year ago. Earnings per share was reflects the mid-April two-for-one stock split. The increase in consolidated revenue was generated by greater than 6% growth in wireless revenue and almost 3% growth in wireline revenue. Net income and EPS for the first quarter of 2013 included favourable income tax-related adjustments of CAD 5 million or 1 cent per share. Simple cash flow increased by CAD 63 million or 13% this quarter due to strong EBITDA growth and the reduced CapEx. Notably, underlying free cash flow before cash taxes was up strongly by 25%. Additionally, growth in both its wireless and wireline business segments generated strong first quarter EBITDA growth of 5.4%, contributing to its excellent EPS growth of 14.3%. EBITDA for the quarter increased by more than 7%, while the EBITDA margin on network revenue increased by 50 basis points to an industry-leading 48.6%. This is the fifth consecutive quarter of year-over-year margin expansion, an impressive result considering the continued strong adoption of smartphones and associated impact of their higher subsidies on acquisitions and retention expenses during a highly competitive quarter. Higher EBITDA growth was the primary driver, which added CAD 0.06 to the upside. The company is providing shareholders with additional clarity on the company's intentions regarding dividend growth program through to 2016. The company plans to continue with two dividend increases per year to 2016, normally announced in May and November, and is targeting the increase to also be in the range of circa 10% annually. Notwithstanding this, dividend decisions will continue to be dependent on earnings and free cash flow and subject to the Board's assessment and determination of financial situation and outlook on a quarterly basis. There can be no assurance that the company will maintain its dividend growth program through to 2016. The company can continue to build excellent momentum in 2013 and beyond, driven by a strong balance sheet, positioning the company well for the upcoming spectrum auctions, a robust earnings enhancement program targeting incremental EBITDA of CAD 250 million by 2015 and importantly, its team's unrelenting focus on delivering exceptional client experiences across all segments of its business.

TELUS Corporation has declared a quarterly dividend of CAD 0.34 per share on the issued and outstanding common shares and CAD 0.34 per share on the issued shares of the company payable on 2 July 2013 to holders of record at the close of business on 10 June 2013.