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Summary
- Customers of Rogers Communications Inc (TSX:RCI.B) woke up on Monday, April 19, to experience irregular access to call and texting services.
- Rogers put out a post on Twitter saying that it was “working quickly” to get the services back up and running as soon as possible.
- Stocks of the national telecom giant moved up by about two per cent on Monday (1.40PM EST) as these issue persisted.
Customers of Rogers Communications Inc (TSX:RCI.B) woke up on Monday, April 19, to experience irregular access to call and texting services amid a nationwide wireless outage.
As major Canadian cities reported such outage issues, Rogers put out a post on Twitter saying that it was “working quickly” to get the services back up and running as soon as possible.
Stocks of the national telecom giant moved up by about two per cent on Monday (1.40PM EST) as these issue persisted.
©Kalkine Group 2021
While the service disruption appeared to be focused in southern Ontario, outage problems reportedly cropped up across the country, spanning from British Columbia to Nova Scotia.
As users continued to face difficulties for several hours, some turned to social media to express their frustration, noting the importance of seamless connectivity in the midst of the ongoing COVID-19 restrictions.
Many emergency services organizations, including Winnipeg Police and Peel Regional Police, have urged Rogers network users on Twitter to stay on the line when dialing 911, as operators have been unable to call back.
Waterloo Regional Police also put up a tweet requesting people to “not hang up” during a 911 call as operators have been experiencing call drops during followup.
Apart from a short series of tweets, Rogers Communication has not put out a statement regarding this issue yet.
What About Rogers Communications Stocks?
As Canada stood hours away from the 2021 federal budget announcement, stocks of Rogers Communications remained in green despite the outage complaints.
The company made headlines on March 15 as it announced its plans to acquire fellow telecom company Shaw Communications Inc (TSX:SJR) in a C$ 26 billion deal. In its wake, Rogers stocks registered a climb of about four per cent year-to-date (YTD).
1-year chart of stock performance of Rogers Communications (Source: EODHD/Others/Thomson Reuters)
The telecom stock, which grew about three per cent in the past one year, posts a return on equity (ROE) of 16.26 per cent and a return of assets (ROA) of 4.07 per cent, as per TMX data. Its price-to-earnings (P/E) ratio is 19.2.
Rogers also pays a quarterly dividend of C$ 0.5, which presently holds a dividend yield of 3.301 per cent, according to TMX.
