|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||48.05 - 48.05|
|52 Week Range||36.76 - 51.28|
|Beta (5Y Monthly)||0.31|
|PE Ratio (TTM)||19.23|
|Forward Dividend & Yield||1.59 (3.31%)|
|Ex-Dividend Date||Mar 09, 2021|
|1y Target Est||N/A|
Building 12 new towers to close key gaps along Highway 16, between Prince Rupert and Prince George, including three provincial highway rest stopsBuilding seven new towers along Highway 14 from Sooke to Port Renfrew, including Wi-Fi coverage at the Sombrio Rest AreaRogers continues its commitment in B.C. to bridge the digital divide, create new jobs, and support the local economy VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) -- Today, Rogers announced that it is expanding its wireless network in B.C., including 5G, to provide reliable connectivity along Highway 16 and Highway 14 for the British Columbians, workers and travellers that rely on these critical routes. The ability to make a call from a highway if your car breaks down or to connect to Wi-Fi at a local rest stop, is incredibly important. At Rogers, it is understood that this is not a nice-to-have, it’s a need-to-have, and no more so than along Highway 16, known as the Highway of Tears. Rogers is committed to doing its part to solve for connectivity along this corridor, and acknowledges the number of women, many of whom are Indigenous, that have gone missing or have been found murdered along this stretch of Highway. “Rogers is proud to be investing in British Columbia to build critically needed 5G networks to bridge the digital divide, including across rural, remote, and Indigenous communities,” said Dean Prevost, President, Connected Home and Rogers for Business. “With these investments announced today, in collaboration with the B.C. Government and the Government of Canada, Rogers is providing improved safety and reliable connectivity for those who depend on Highways 16 and 14, while creating new jobs and supporting the economy of B.C.” For Highway 16 - Rogers, alongside their 5G partner Ericsson, will build 12 new cellular towers to close key gaps and provide additional cellular coverage between Prince Rupert and Prince George, providing essential connectivity to those who use this Highway every day. This project will provide 252kms of new highway cellular coverage closing key gaps that remain along this corridor, so that there will be continuous coverage along all 720km of this northern highway through to Prince George. Rogers will also provide coverage to three provincial highway rest stops along Highway 16 located at: Boulder Creek, Basalt Creek and Sanderson Point. Work on this infrastructure expansion begins in the spring of 2021 and is expected to continue through to October 2022. For Highway 14 - seven new cellular towers will be built by Rogers to provide additional network coverage along the route from Sooke to Port Renfrew. This new highway coverage, as well as a Wi-Fi Hotspot at the Sombrio Rest Area, will provide essential connectivity to those who live, work and visit in this area of Vancouver Island. Construction begins this spring and is estimated to be complete by October 2021. These expansions are made possible by leveraging financial support from the provincially funded Connecting British Columbia program, administered by Northern Development Initiative Trust. Together, Rogers and the B.C. government, alongside the Government of Canada, are bridging the digital divide to enhance safety, and connectivity in the region. These initiatives are part of Rogers’ ongoing commitment to expand service and improve connectivity for underserved rural, remote and Indigenous communities in the West, and across Canada. The Rogers team is excited about future plans in Western Canada, and our agreement to combine Rogers Communications with Shaw Communications, which will enable us to invest $6.5 billion to build critically needed 5G networks, connect underserved rural and Indigenous communities, and bring added choice to customers and businesses. When the transaction between Rogers and Shaw is complete, we will be creating up to 3,000 net new jobs in the West, including more than 1000 in British Columbia. And the company will continue to build on that work to bridge the digital divide, and strengthen communities throughout Western Canada, with our proposed $1 billion fund dedicated to connecting rural, remote and Indigenous communities. There is a strong link between mobile broadband adoption and economic development; Ericsson’s research indicates that, on average, a 10 percent increase in mobile broadband penetration, causes a 0.8 percent increase in GDP1. The ability to scale and make 5G a reality for all Canadians, as well as close the connectivity gap, has never been more important - we recognize the critical importance of our services to Canadians. 5G is also the most energy-aware standard, with advanced features to manage energy consumption and meet the increasing traffic demands2, making it the ideal network technology for rural Highways. Rogers continues to make network and innovation investments throughout British Columbia, including recent network sites in West Kelowna and Osoyoos, and upgraded towers across Okanagan, Cariboo, Central and Northern B.C. and on Vancouver Island. The Company has also recently announced a collaboration with the Métis Nation British Columbia, and a new innovative solution in collaboration with InDro Robotics, a BC drone company. In 2020, Rogers collaborated with the Cowichan Valley school board to put iPads in the hands of B.C. students and families during the COVID-19 pandemic. The Company has also partnered with additional Indigenous communities in B.C., such as Nisg̱a’a Nation, and Witsuwit’en Village (Witset First Nation). Rogers owns and operates Citytv, OMNI BC, as well as ten radio stations across the province. We employ more than 1700 team members in B.C. across customer solutions, sales, retail, network and technology, media, corporate roles and more. Rogers has also announced that it will bring 350 new jobs into the local economy by 2021 through its B.C. customer solution centre in Kelowna. Rogers has invested over $30 billion over the past 35 years to build Canada’s most trusted and reliable wireless network3. In 2020, the company was awarded the best wireless network in Canada for the second year in a row by umlaut, the global leader in mobile network testing and benchmarking. Rogers is also ranked number one in the West and Ontario in the J.D. Power 2020 Canada Wireless Network Quality Study. A recent 2020 Ookla Speedtest report found Rogers wireless network delivers the most consistent speeds of any national wireless network in Canada. About RogersRogers is a proud Canadian company dedicated to making more possible for Canadians each and every day. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. We have grown to become a leading technology and media company that strives to provide the very best in wireless, residential, sports, and media to Canadians and Canadian businesses. Our shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). If you want to find out more about us, visit about.rogers.com. For more firstname.lastname@example.org 1 Mobile broadband enhances economic development https://www.ericsson.com/en/cases/2019/boosting-gdp-through-mobile-broadband2 Network energy performance https://www.ericsson.com/en/about-us/sustainability-and-corporate-responsibility/environment/product-energy-performance3 Most Reliable based on umlaut performance benchmark audit of Canadian mobile networks, June 2020; Most Trusted based on total wireless subscribers
Rogers Communication (RCI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
(Bloomberg) -- Mergers and acquisitions are off to their fastest start to a year ever in Canada, driven by a combination of cheap financing for buyers, high valuations for sellers and an improving economic outlook that’s encouraging companies to make major moves.Canadian companies have been involved this year in 1,168 deals with a total value of $115 billion, including assumed debt, according to data compiled by Bloomberg. That’s more than double the $44.3 billion in the year-earlier period and the highest first-quarter total in data stretching back to 1993.Topping this year’s list are two of the biggest Canadian deals of the past decade: Canadian Pacific Railway Ltd.’s $28.4 billion acquisition of Kansas City Southern and Rogers Communications Inc.’s C$25 billion ($20 billion) takeover of rival Shaw Communications Inc.Those long-studied deals got a push from low interest rates that allowed the buyers to take on large amounts of leverage. They also were helped by estimates for Canadian economic growth of 5.4% this year and 4% next year, which give acquirers confidence they’ll earn enough to pay off those debt tabs.“Those are numbers we haven’t seen in North America in decades,” Dan Barclay, chief executive officer of BMO Capital Markets, said of the economic forecasts in an interview. “The forward-looking economic growth -- the ability to grow and make money -- is about as good as it has been in my career right now.”BMO Capital Markets, a unit of Bank of Montreal, has advised on 12 Canadian deals this year with a total value of $44.3 billion, trailing only Bank of America Corp. BMO is advising Canadian Pacific on its acquisition of Kansas City Southern, which ranks as the second-largest takeover by a Canadian company in the past decade. Enbridge Inc.’s $42.2 billion acquisition of Spectra Energy in 2016 was the biggest.Canadian Pacific had attempted large acquisitions over the years, but came up empty. The company entered merger talks with CSX Corp. in 2014 in a bid to create a company with a combined market value of $62.5 billion, but the negotiations failed. Two years later, the railroad operator made and ultimately abandoned a $28.9 billion hostile bid for Norfolk Southern Corp.This time, the company found a willing seller in Kansas City Southern, which had seen its share price rise 141% from its pandemic low of $92.86 before striking the deal. Canadian Pacific’s cash-and-stock offer values the railway at $275 a share.Rogers was also stymied in previous attempts for a transformative deal. The company in August teamed up with Altice USA Inc. to attempt a $7.8 billion hostile bid for Cogeco Inc., but the proposal was rebuffed. But it found a partner in the Shaw family, which decided that selling at a 69% premium was better than staying independent.But neither of those deals would have been feasible without large amounts of debt. Rogers has lined up a C$19 billion bridge loan with Bank of America to help fund the acquisition, people familiar with the matter told Bloomberg. Canadian Pacific is raising about $8.6 billion of debt to help fund its deal.Both deals may face regulatory hurdles before they’re completed. Canadian Innovation Minister Francois-Philippe Champagne said on Tuesday that the Rogers-Shaw tie-up creates “very serious issues” regarding competition.Confidence Rising“Confidence in the future drives how much leverage you want to take,” BMO’s Barclay said. “So if you’re very confident that when you make an acquisition that it will work out and you will be doing something for your shareholders, you’ll take more leverage.”Barclay said companies’ confidence looks set to persist, and that there will be “lots and lots” more dealmaking to come this year.Canada’s resources industries and its burgeoning role as a center of technology should continue to drive major cross-border activity, said Bruce Rothney, chairman and CEO of Barclays Plc’s operations in Canada. Barclays has advised on 11 Canadian deals with a value of $35.9 billion, ranking it third so far this year.Fintech, SPACsCanada has become revered as a world center for enterprise software as well as internet and financial technology, which will attract capital to the country in coming decades, said Rothney, whose firm is advising Rogers on the Shaw deal. Special purpose acquisition companies -- which have raised almost $190 billion globally since 2019, according to data compiled by Bloomberg -- have added a whole new pool of capital seeking deals, which dominated activity in 2020 and will continue to drive dealmaking, he said.Perhaps the dominant theme of the year ahead will be the continued integration of U.S. and Canadian economies, helped by a new U.S. administration that’s more supportive of cross-border trade and capital flows, Rothney said, pointing to the railway deal as an example of the trend.“The featured story for this year is going to be acceleration of cross-border M&A driven by commodity-price strengthening and increasing confidence related to the latter stages of Covid,” he said. “We have many large Canadian clients that are actively exploring possibilities, including the pension funds and the sponsor community, but also strategics that have got real ambition to continue to build their operations in the U.S.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.