MONTREAL, QUEBEC--(Marketwired - May 6, 2014) - TELUS (TSX:T)(NYSE:TU) will invest more than $1.3 billion in new infrastructure and facilities across Quebec through 2016, the company unveiled today. TELUS will invest $640 million across the province in 2014, the final year of a three-year plan unveiled in 2012, and today committed to spend another $$700 million in 2015 and 2016 to build infrastructure to bring Quebecers the best experience and technology at home, at work and on the move.
By the end of 2016, TELUS' investment in operations and infrastructure in Quebec since 2000 will exceed $20 billion. Importantly, since 2000, TELUS has also remitted income, payroll, property, sales and other taxes totalling more than $1.7 billion, helping support services for citizens in communities across the province.
"Our networks allow Quebecers and businesses to connect no matter where they are, from Gatineau to Gaspésie to Havre-Saint-Pierre," said François Gratton, president of TELUS Québec and Atlantic Canada. "Our technology investments mean better health care for patients, improved connection speeds for businesses and the best access to entertainment at home and on the road. Through our investments, TELUS will bring fibre optics to thousands of households in remote areas of Quebec, making the province one of the most connected places in the world. Our 6,000 team members in Quebec bring our advanced networks to rural areas and big cities alike, and contribute to the economic development of every part of the province. This is why our customers have recognized us as the most recommended telecommunications provider in Quebec."
As significant as TELUS' investments in its networks and infrastructure are, its community engagement is also crucial. Since 2000, TELUS, its 6,000 team members, 1,500 retirees and community boards in Quebec have done 390,000 hours of volunteer work and donated $44 million to Quebec organizations.
This year, TELUS' infrastructure investment will advance services for the benefit of Quebecers by:
- Connecting thousands of households to fibre optics in Cap-Santé, Donnacona, Neuville, Pont-Rouge, Rimouski, Saint-Apollinaire, Saint-Augustin-de-Desmaures, Saint-Georges and Sept-Îles. Fibre optics offer residential customers dramatically increased Internet speeds and capacity.
- Expanding the 4G LTE network, the world's fastest wireless technology, to over 80 per cent of the Quebec population by the end of 2014, in particular in the Montreal, Quebec City, Gaspésie, Lower St. Lawrence, North Shore and Mauricie regions.
- Meeting the increasing demand for wireless data by rapidly deploying 700MHz spectrum for use in rural and urban areas, enhancing the already world-leading speed, coverage and reliability TELUS customers' experience.
- Continuing the deployment of Optik TV in the Lower St. Lawrence, Gaspésie and Quebec City regions to bring the most recommended TV service in Quebec to more consumers in some 10 communities.
- Connecting more businesses to fibre optics, particularly in the area's industrial parks and business districts. These dedicated high-speed networks and the TELUS Intelligent Internet Data Centre in Rimouski are driving flexible cloud-computing technologies managed and hosted by TELUS.
- Continuing to protect TELUS customers against digital security threats, notably through the recent acquisition of Enode, which delivers advanced information security and risk management technologies.
- Expanding the reach of TELUS' healthcare solutions, which currently provide electronic medical records to more than 12,500 Canadian physicians across the country and support 45 million interactions with patients every year.
The capital investment disclosed in this release is consistent with TELUS' overall capital expenditure guidance for 2014, issued on February 13, 2014.
TELUS (TSX:T)(NYSE:TU) is Canada's fastest-growing national telecommunications company, with $11.4 billion of annual revenue and 13.3 million customer connections, including 7.8 million wireless subscribers, 3.3 million wireline network access lines, 1.4 million Internet subscribers and 815,000 TELUS TV customers. Led since 2000 by President and CEO, Darren Entwistle, TELUS provides a wide range of communications products and services, including wireless, data, Internet protocol (IP), voice, television, entertainment and video.
In support of our philosophy to give where we live, TELUS, our team members and retirees have contributed more than $350 million to charitable and not-for-profit organizations and volunteered 5.4 million hours of service to local communities since 2000. TELUS was honoured to be named the most outstanding philanthropic corporation globally for 2010 by the Association of Fundraising Professionals, becoming the first Canadian company to receive this prestigious international recognition.
For more information about TELUS, please visit telus.com.
Forward looking statement:
This news release contains statements about expected future events including TELUS' projected multi-year capital and operating expenditures, which include spectrum licence purchases that are forward-looking. The investments described for 2015 and 2016 are subject to the ongoing review and approval of TELUS' Board of Directors. By their nature, forward-looking statements require the Company to make assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors (such as regulatory and government decisions, the competitive environment, economic conditions, our ability to purchase spectrum licences through auctions or third-parties, and our earnings, free cash flow and financial position) could cause actual capital and operating expenditures to differ materially from those expressed in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and qualified by the assumptions (including the assumptions for our 2014 annual guidance, semi-annual dividend increases through 2016, ability to sustain and complete our multi-year share purchase programs through 2016), qualifications and risk factors referred to in the 2013 annual report, which are specifically incorporated by reference herein, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov). Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.