Market Overview

Rogers Communications Authorizes Up to $500M Stock Buyback

Rogers Communications Inc. ("Rogers")
announced today that it has filed with the Toronto Stock Exchange
("TSX")  a notice of its intention to renew its normal course issuer
bid ("NCIB") for its Class B Non-Voting shares ("Class B shares") for a
further one-year period.

As previously stated, 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.

Subject to acceptance by the TSX, the TSX notice provides that Rogers
may, during the twelve month period commencing February 25, 2013 and
ending February 24, 2014, purchase on the TSX, the New York Stock
Exchange and/or alternative trading systems the lesser of 35.8 million
Class B shares, representing approximately 10% of the public float of
the Class B shares, and

See full press release

Posted-In: News Guidance Management Global

 

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