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Highlights:
- Rogers Communications declares a quarterly dividend of 50 cents per share on both Class A and Class B shares.
- The quarterly dividend will be paid on April 2, 2025, to shareholders of record on March 10, 2025.
- Shareholders may choose to reinvest dividends through Rogers’ Dividend Reinvestment Plan with a 2% discount on Class B Shares purchased from treasury.
Rogers Communications Inc. (TSX:RCI.A) operates in the telecommunications sector, providing a wide range of services, including wireless, cable, and broadband services. As part of its ongoing shareholder returns, the company has announced the declaration of a quarterly dividend, providing ongoing financial rewards to its stakeholders.
Details of the Quarterly Dividend
Rogers' Board of Directors has approved a quarterly dividend of 50 cents per share for both Class A Voting shares and Class B Non-Voting shares. The dividend is scheduled for distribution on April 2, 2025. To be eligible for this dividend, shareholders must be recorded as owners of the shares by March 10, 2025.
Dividend Reinvestment Plan
Rogers offers its shareholders an option to reinvest the dividends they receive through the Dividend Reinvestment Plan (DRIP). The DRIP allows shareholders to reinvest their cash dividends into additional Class B Non-Voting shares of the company. In cases where shares are issued from the company’s treasury, they will be made available at a 2% discount compared to the Average Market Price, which is defined in the plan.
Treasury vs. Open Market Purchases
Under the plan, the Board has the discretion to determine whether the additional Class B shares will be purchased on the open market or issued directly by Rogers from its treasury. This flexibility allows the company to choose the most appropriate method of fulfilling its dividend obligations under the reinvestment plan.
Timing and Shareholder Participation
The quarterly dividend, while benefiting those shareholders who choose to participate in the DRIP, is ultimately subject to approval by Rogers’ Board of Directors at each interval. The decision to declare dividends is based on the company's financial standing and strategic objectives. Shareholders who do not wish to participate in the reinvestment plan will receive their dividends in cash, as per the standard procedure.
