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Rogers Proposes Stock Split

Rogers Communications said its board of directors will put forward a proposal to its class-A shareholders to split its class-A voting and class-B nonvoting shares on a two-for-one basis.

The Canadian MSO added that its board approved an increase in its annual dividend from C$0.15 to C$0.32 per share ($0.1337 to $0.2852).

“These actions reflect the confidence of our board of directors in the continued success of the strategies we have employed to position Rogers as Canada's premier provider of communications, entertainment and information services," CEO Edward "Ted" Rogers said in a prepared statement.

"These decisions also recognize the growing cash flows being generated by our business, as well the board's interest in helping to widen distribution and make Rogers shares accessible to a broader range of investors,” he added.