The residential voice subscriber losses continue to reflect the trend of substitution to mobile and internet-based services, mostly mitigated by our expanding fibre footprint and bundled product offerings, as well as our strong retention efforts, including lower-priced offerings. This is illustrative of the significant value we are creating as the globally-leading provider of agriculture technology solutions.
Effective January 1, 2021, on a prospective basis, following an in-depth review of customer accounts within a legacy subscriber provisioning system to be decommissioned, we adjusted our internet subscriber base to remove 16,000 subscribers. In October 2021, we expanded our Health for Good program to the Niagara Region of Ontario.
For further explanation of these measures, see Non-GAAP and other financial measures in this news release.
The Company's most targeted sectors include information technology (22%) and internet software and services (16%). Caution regarding forward-looking statements.
Therefore, results described below may not be indicative of future trends, as the COVID-19 pandemic prevents us and our customers from operating in the normal course of business in certain areas, while we continue to adjust our mode of operations to continue delivering on our customers first priorities and social purpose.
This spend has enabled: (i) additional premises to be connected to our fibre network; (ii) acceleration of our copper-to-fibre migration program; (iii) expansion of the number of communities we are bringing fibre to, including many rural and Indigenous communities; (iv) advancement of our 5G network build which now covers over 26.2 million Canadians, representing 70 per cent of the Canadian population at December 31, 2021; and (v) progress in the implementation of our digital strategy and enhanced product development that will bolster both top-line revenue growth and operating expense efficiencies.
Our total TELUS technology solutions (TTech) subscriber base of 16.9 million is up 5.9 per cent over the last twelve months, reflecting a 4.1 per cent increase in our mobile phones subscriber base to approximately 9.3 million, and a 19 per cent increase in our connected devices subscriber base to more than 2.1 million.
This growth was offset, in part, by foreign exchange impacts in the fourth quarter of 2021 driven by the strengthening of the Canadian dollar compared to the U.S. dollar, the primary operating currency of DLCX. When excluding the effects of restructuring and other costs, income tax-related adjustments, other equity losses related to real estate joint ventures, and the tax-effected gain arising from the disposition of our financial solutions business in the quarter, adjusted net income of $331 million increased by 15 per cent, while adjusted basic EPS of $0.23 was up 4.5 per cent. In the fourth quarter, we recognized a $410 million pre-tax gain arising from the disposition of our financial solutions business, as reported in other income. The sum of the last four quarterly dividends declared per common share totals $1.2872, compared to $1.2049 for the four preceding quarters, reflecting 6.8 per cent growth. The increase is due to the continued adoption of virtual solutions to keep Canadians safely connected to health and wellness care during the pandemic. Health services revenues increased by $22 million or 18 per cent in the fourth quarter of 2021.
Together, lets make the future friendly.
These include: TELUS sets 2022 consolidated financial targetsTELUS consolidated financial targets for 2022 are guided by a number of long-term financial objectives, policies and guidelines, which are detailed in Section 4.3 of the 2021 annual MD&A.
TELUS has acquired 21 companies, including 8 in the last 5 years. We also calculate Adjusted EBITDA to exclude items of an unusual nature that do not reflect our ongoing operations and should not, in our opinion, be considered in a long-term valuation metric or should not be included in an assessment of our ability to service or incur debt.
Mobile phone ABPU was $70.09 in the fourth quarter of 2021, an increase of $0.39 or 0.6 per cent, largely reflecting the same items noted above for mobile phone ARPU, in addition to a greater mix of bring-your-own device customer additions.
We are now accepting all Planning, Building, Engineering, Fire, and . Roaming revenue from business and consumer travel will improve from levels seen in 2021, with the easing of travel advisories and border restrictions, including those in Canada and the U.S. A full recovery is estimated closer to the end of 2022 at the earliest.
TELUS Agriculture provides innovative digital solutions throughout the agriculture value chain, supporting better food outcomes from improved agri-business data insights and processes.
This aforementioned recognition comes on top of the multi-year recognition our world-leading Wireless and PureFibre networks have consistently earned for speed, reliability, user experience and expansiveness from numerous other independent network reports, including U.K.-based Opensignal, U.S.-based PCMag and J.D.
Please quote conference access code 56871# and playback access code 0111836#.
Digital health transactions mean the total number of health claims, dental claims, consultations or other paid transactions facilitated by TELUS Health services.
Churn continues to benefit from our successful bundling of mobility and home services, our focus on executing customers first initiatives and handset upgrade volume programs, and our leading network quality.
We expect the pandemic impacts in 2022 to be smaller in scale than in 2021, primarily due to the uptake of COVID-19 vaccinations in the general population, allowing for the re-opening of the global economy in areas where we conduct business.
We expanded our Tech for Good program nationally, in partnership with March of Dimes Canada, and continued to provide people with disabilities access to personalized one-on-one assessments, customized recommendations, training and support on mobile devices. A copy of the early warning report to be filed by TELUS in connection with the acquisition will be available on TELUS International's profile on SEDAR at www.sedar.com. The sum of active mobile phone subscribers, connected device subscribers, internet subscribers, residential voice subscribers, TV subscribers and security subscribers, measured at the end of the respective periods based on information in billing and other source systems. Paying, collecting and remitting in excess of $2.7 billion in 2021 to federal, provincial and municipal governments in Canada consisting of corporate income taxes, sales taxes, property taxes, employer portion of payroll taxes and various regulatory fees.
Driven by our determination and vision to connect all citizens for good, our deeply meaningful and enduring philosophy to give where we live has inspired TELUS, our team members and retirees to contribute more than $900 million, in cash, in-kind contributions, time and programs, and 1.8 million days of service since 2000.
TTech fixed products and services direct contribution increased by $76 million or 7.2 per cent in the fourth quarter of 2021 due to growth in margins for internet and data services, smart food-chain technology and health services. In November, TELUS was awarded a Terra Carta Seal by The Sustainable Markets Initiative (SMI), a U.K. climate group headed by Prince Charles, for leadership on climate change energy transition. From themed meeting rooms and fitness facilities to onsite movie theaters and libraries, we know that office space matters. Continued growth of DLCX revenue and EBITDA generated by expanded services for existing and new clients and strategic business acquisitions.
In September, we launched our Reconciliation Commitment, which was developed in partnership with and in support of Indigenous Peoples across the country.
This ranking demonstrates our global leadership in key categories, including corporate citizenship and philanthropy, innovation management, and environmental and social reporting.
EBITDA as calculated by TELUS is equivalent to Operating revenues and other income less the total of Goods and services purchased expense and Employee benefits expense.
TELUS intends to continue and extend this global leadership position as we advance the development, coverage and commercialization of our 5G network and its inherent functionalities.
Our performance in the fourth quarter, and for the full year, was characterized by our hallmark combination of robust, high-quality and profitable customer growth, alongside strong financial results. Our team members work hard, so it's important to create fun and relaxing spaces . At the end of 2021, our healthcare programs covered 20.6 million lives, an increase of 3.7 million over the past 12 months, mainly due to the continued demand for virtual solutions, an increase in value-added services including vaccination solutions, and an increase in elective health services volumes. At TELUS Health, our team drove double-digit year-over-year health services revenue growth for both the quarter and the year, while achieving important milestones along the way as we continue to meaningfully scale our health operations.
EBITDA (earnings before interest, income taxes, depreciation and amortization): We have issued guidance on and report EBITDA because it is a key measure used to evaluate performance at a consolidated level. Our industry-leading customer growth was driven by our teams passion for delivering outstanding customer experiences, which once again contributed to strong client loyalty across our key product lines, including blended Mobile Phone, Internet, Optik TV, Security and Voice churn all below one per cent for the year.
We expect growth in EBITDA to be driven by continued demand for data in our mobile and fixed products and services; roaming revenue improvement corresponding with a reduction in pandemic restrictions; and continued significant ongoing investments in our leading fibre broadband network and growing 5G deployment, supported by our accelerated broadband build program. Finally, our broadband technology is supporting critical transformational change in respect of: remediating the environmental state of our planet by bridging time and distance through technology virtualization; advancing agriculture efficiency and effectiveness, and food quality production through data analytics; and bridging socio-economic and geographic divides so that every member of our society has access to the technology that yields the opportunity to realize their full potential. Continued growth in fixed products and services data revenue, reflecting an increase in internet, TV and security subscribers, speed upgrades, rate plans with larger data buckets or endless data usage, and expansion of our broadband infrastructure, healthcare solutions, agriculture solutions and home and business security offerings.
Adjusted basic EPS is calculated as adjusted net income divided by the basic weighted-average number of Common Shares outstanding. When you judge the law, you are not keeping it, but sitting in judgment on it. TELUS and TELUS International operate in 25+ countries around the world. The Purchased Shares were acquired at an average purchase price of C$26.43. Since 2004, we have returned approximately $21 billion to shareholders through our dividend and share purchase programs, including $15.7 billion in dividends and $5.2 billion in share repurchases, representing over $15 per share. In addition, our team contributed over $1.6 million to emergency response efforts in 2021, including more than $1 million to communities impacted by flooding, wildfires and tornadoes. Digitally-led customer experiences TELUS International (DLCX). Furthermore, the unparalleled skill, innovation and grit of our team underpins our leading multi-year dividend growth program, now in its twelfth year. These aforementioned objectives for our economy and society reflect TELUS Technology for Good social purpose to progress the growth of skilled jobs, the physical and mental well-being of our citizens and the uplifting of marginalized constituencies as embodied in our brand promise, Lets Make the Future Friendly., Darren further noted, The TELUS teams ability to consistently drive profitable growth over the long-term, on the back of our differentiated asset base, world-leading networks and unique growth drivers, provides us with confidence in delivering on the annual targets for 2022 that we have announced today. Add (deduct) amounts net of amount attributable to non-controlling interests: Tax effects of restructuring and other costs, Other equity losses related to real estate joint ventures, Gain on disposition of financial solutions business, Tax effect of gain on disposition of financial solutions business, Tax effect of restructuring and other costs, per share, Income tax-related adjustments, per share, Fourth quarters ended December 31 ($ millions), Add restructuring and other costs included in EBITDA, Other equity losses related to real estate jointventures, Deduct gain on disposition of financial solutions business, Deduct non-cash gains from the sale of property, plant and equipment, Restructuring and other costs, net of disbursements, Effects of contract asset, acquisition and fulfilment (IFRS 15 impact) and TELUS Easy Payment device financing, Effects of lease principal (IFRS 16 impact), Leases formerly accounted for as finance leases (IFRS 16 impact), Net employee defined benefit plans expense, Employer contributions to employee defined benefit plans, Capital expenditures (excluding spectrum licences), Effect of disposition of financial solutions business on income taxes paid, Effects of lease principal and leases accounted for as financial leases prior to adoption of IFRS 16, Gain on disposition of financial solutions business, net of effect on income taxes paid, Individually immaterial items included in Net income neither providing nor using cash, Re-payments of the outstanding device balance owing from customers on contract ($ millions), Denominator - Simple average number of subscribers during the period (millions), Annual average of billing per subscriber unit ($), Divide by number of months during the period.
However, we mitigated these challenges by leveraging certified pre-owned device inventory, our Bring-it-Back device program and device repair businesses, including Mobile Klinik, in addition to our compelling rate plan offers.
TELUS Communications Inc. VANCOUVER, British Columbia, Dec. 16, 2022 (GLOBE NEWSWIRE) -- TELUS Corporation (TELUS) today announced that it has acquired, through an indirect, wholly owned subsidiary, an aggregate of 92,419 subordinate voting shares in the capital of TELUS International (Cda) Inc. (TELUS International) by way of market purchases over the facilities of the Toronto Stock Exchange and New York Stock Exchange.
We welcomed close to 12,000 new households to our Internet for Good program this year, resulting in 106,000 low-income family members, persons with disabilities and youth aging out of foster care benefiting from low-cost internet since the launch of the program in 2016.
Free cash flow excludes certain working capital changes (such as trade receivables and trade payables), proceeds from divested assets and other sources and uses of cash, as found in the Consolidated statements of cash flows. Effective January 1, 2021, with retrospective application to January 1, 2020, in alignment with our segment reporting changes, we made a retroactive adjustment to remove internal network service revenue and approximately 29,000 subscribers from our mobile phone subscriber base and associated operating statistics (average billing per subscriber per month (ABPU) / average revenue per subscriber per month (ARPU) and churn).
We are proud of the many ways in which our Wireless and PureFibre networks, with their global-best speeds, reliability and reach are driving economic growth, innovation and job creation.
Investing approximately $3.5 billion in capital expenditures primarily in communities across Canada in 2021 and approximately $47 billion since 2000.
Mobile network revenue increased by $76 million or 5.0 per cent in the fourth quarter of 2021, due to subscriber growth and higher mobile phone ARPU, as described below.
Our purchase of additional shares of TELUS International reflects its importance to TELUS, and our strong belief that this represents an attractive investment opportunity, particularly at current share price levels, commented Darren Entwistle, President and CEO of TELUS.
These differences largely arise from TELUS International adopting definitions consistent with practice in its industry. TELUS Communications Inc
Mobile phone net additions were 112,000 in the fourth quarter of 2021, an increase of 25,000, demonstrating improvements in retail store traffic compared to the prior year, albeit still below pre-pandemic levels, our continued strong execution in digital sales and expanded channels, and our successful efforts to drive high-value customer net additions, inclusive of our consistently low customer churn, as discussed below. palmer high school yearbook; patricia thompson obituary 2022; emily brent quotes with page numbers. Under the agreement, TELUS International will acquire WillowTree for a total enterprise value of US$1.225 billion, inclusive of US$210 million of assumed debt, of which US$125 million will be settled in TELUS International subordinate voting shares, approximately US$160 million will be reinvested by certain eligible management team members and s. As non-GAAP measures generally do not have a standardized meaning, they may not be comparable to similar measures presented by other issuers. Includes a gain on the disposition of our financial solutions business of $410 million ($349 million tax effected; $0.26 cents per share).
On September 1, 2022, TELUS announced the completion of the previously disclosed acquisition by way of a plan of arrangement of LifeWorks Inc. News release announcing the proposed acquisition News release announcing the completion of the acquisition Long-term: How ecosystem strategies build resilience. Acquisition creates TELUS Physician Solutions line of business dedicated to helping physicians improve productivity and deliver better health outcomes for patients. The decrease in free cash flow was driven by higher capital expenditures aligned with our planned accelerated capital investments and higher income taxes paid, partly offset by higher EBITDA.
This was partly offset by lower chargeable usage revenues as customers continued to adopt larger data allotments in their rate plans, as well as the impact of the competitive environment putting pressure on base rate plan prices in the current and prior periods.
A copy of the early warning report to be filed by TELUS in connection with the acquisition will be available on TELUS International's profile on SEDAR at www.sedar.com. The increase was attributable, in part, to growth generated from our acquisitions, particularly within our tech and games client base. For more information about TELUS, please visit telus.com, follow us @TELUSNews on Twitter, and @Darren_Entwistle on Instagram. Continued deployment of access-agnostic technology in our network. Cash provided by operating activities decreased by $137 million in the fourth quarter of 2021 and free cash flow of $43 million decreased by $175 million compared to the same period a year ago.
We are proud to stand in solidarity with residential school survivors and their families through our $8 million commitment toward reconciliation. Throughout 2021, our team continued to deliver on our customers first promise, achieving nearly one million new customer additions along with leading loyalty results, reflecting our superior bundled offerings and strong customer retention efforts., During the quarter, our team continued to execute on our accelerated broadband build program, connecting more homes and businesses directly to our leading PureFibre network, finishing the year with more than 2.7 million premises enabled with fibre along with over 1.3 million customers connected to our world-leading PureFibre network, Doug added. Furthermore, as we ramp down our accelerated broadband build at the end of this year, our capital expenditure profile will decline materially going forward, beginning in 2023, supporting sustainable cash flow generation and our commitment to our transparent dividend growth program. Supporting our growth profile in 2022 are our unique and diversified growth assets: TELUS International, including growing demand in the digital transformation ecosystem and the acceleration of digital adoption across various sectors of the global economy; TELUS Health, including growing demand for our expanding portfolio of digital health services and applications; and TELUS Agriculture, which is using technology to drive better food outcomes across the agriculture value chain. We exclude impacts of accounting changes that do not impact cash, such as IFRS 15 and IFRS 16. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. Powered by our leading asset mix, we are well positioned to continue executing against our long-standing growth strategy, while driving a collective focus on social capitalism, and delivering outstanding value for all TELUS stakeholders for years to come, while at the same time achieving our ambitious environmental goals, concluded Doug.
Estimated economic growth rates in Canada, B.C., Alberta, Ontario and Quebec of 4.3%, 4.2%, 4.4%, 4.5% and 3.7%, respectively.
On May 7, 2021, we announced that we intended to accelerate up to $750 million of capital spending in 2021.
Continued impacts on our TELUS Health Care Centres as a result of continued restrictive measures resulting in cancellations of appointments, reduced capacity or closure of clinics. Securities regulations require such measures to be clearly defined, qualified and reconciled with their nearest GAAP measure.
In collaboration with our partner, REACH Niagara, we are bringing primary care to marginalized and underserved people in the area, including migrant agricultural workers, new immigrants and refugees, while supporting the training of the next generation of healthcare workers. TELUS purchased the Purchased Shares for investment purposes and may or may not purchase or sell multiple voting shares, subordinate voting shares or other securities of TELUS International in the future on the open market or in private transactions, depending on market conditions and other factors.
They include, but are not limited to, statements relating to our objectives and our strategies to achieve those objectives, our plans and expectations regarding the impact of the COVID-19 pandemic and responses to it, our expectations regarding trends in the telecommunications industry including demand for mobile data and ongoing internet subscriber base growth, and our financing plans including our multi-year dividend growth program.
This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world.
TIs enviable list of client partners rely on TIs talented and engaged team, along with its deep end-to-end digital capabilities to deliver a superior customer experience, including a unique and unparalleled mix of content moderation and artificial intelligence (AI) capabilities. Indeed, 2021 represented our eighth consecutive year of industry-leading postpaid wireless churn below one per cent., Our results are buttressed by our highly differentiated and potent asset mix geared towards high-growth, technology-oriented verticals, continued Darren. purchased shares being acquired for a purchase price of us$16.90 per purchased share, representing aggregate consideration of us . These industry-leading targets will be supported by the robust guidance for 2022 announced this morning by TI, targeting strong double-digit Revenue and Adjusted EBITDA growth as they continue to drive impressive operating momentum through end-to-end design, build and deliver capabilities, tapping into the accelerated need for premium digital customer experiences, digital transformation, content moderation and AI data solutions across its high growth target verticals on a global basis.
Mobile equipment and other service revenues increased by $30 million or 5.0 per cent in the fourth quarter of 2021, reflecting higher-value smartphones in the sales mix, despite an increased mix of certified pre-owned device sales. Alternatively, you may .
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We focus on creating innovative workspaces that inspire our people and serve as a daily reminder to think differently.
Ongoing subscriber adoption of, and upgrades to, data-intensive smartphones, as customers seek more mobile connectivity to the internet at faster speeds. Since 2000, we have remitted approximately $31 billion in these taxes.
(1)Refer to Note 31 of the consolidated financial statements for further information. In TELUS Agriculture, through our teams ongoing efforts to integrate and grow this unique business, we drove strong double-digit revenue growth across our three lines of business - agribusiness; food, beverage and consumer goods; and animal health - exceeding our annual revenue objective with revenues in agriculture, including telecom connectivity, of over $400 million in 2021.
TELUS has acquired in 1 US state, and 3 countries.
The purchase of the Purchased Shares is being made pursuant to the normal course purchase exemption set forth in section 4.1 of National Instrument 62-104. telus acquires radiant. They should not be considered alternatives to Net income and basic EPS in measuring TELUS performance. For certain financial metrics, there are definitional differences between TELUS and TELUS International reporting. Digital health transactions were 142.8 million in the fourth quarter of 2021, reflecting an increase of 7.7 million for the quarter, driven by a higher number of adjudication and eClaims as plan members resumed the utilization of elective health services. The shares held by TELUS now represent approximately 74.78% of the outstanding multiple voting shares, 2.12% of the outstanding subordinate voting shares, 56.63% of the outstanding shares of TELUS International and 72.44% of the outstanding voting rights of TELUS International. Nope, watermelon can get grainy even when its in season, imagine how it will be when it thaws. The purchase of these shares is also reflective of the compelling prospects and robust profitable growth trajectory of the TELUS International organization, benefitting from the significant synergies across the TELUS business, particularly TELUS Health and TELUS Agriculture & Consumer Goods, which will be further enhanced with the WillowTree acquisition.
Readers are cautioned not to place undue reliance on forward-looking statements. Our mobile phone churn rate was 1.04 per cent in the fourth quarter of 2021, compared to 1.09 per cent in the fourth quarter of 2020, reflecting the impacts of industry-wide inventory shortages arising from global supply chain challenges, which had an impact on customer switching activity.
Residential voice net losses were 10,000 in the fourth quarter of 2021, compared to residential voice net losses of 9,000 in the fourth quarter of 2020.
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