SCHEDULE: Bank of Montreal Discloses 3.78% Stake in TELUS CORP

Bank of Montreal and its affiliates have disclosed a passive beneficial ownership of 3.78% in TELUS CORP common shares.

Summary

• Bank of Montreal, along with its subsidiaries, reported an aggregate beneficial ownership of 58,129,433 common shares of TELUS CORP.
• This aggregate ownership represents 3.78% of the class of TELUS CORP's common shares.
• The filing was made under Rule 13d-1(b), indicating that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• Key reporting entities include Bank of Montreal Holding Inc. (3.62%), BMO Nesbitt Burns Inc. Wealth Management (3.57%), and BMO Asset Management Inc. (1.74%).
• The reporting persons disclaim acting as a group for the purposes of Section 13(d) or 13(g) of the Act.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership, which is neutral in sentiment. It does not contain positive or negative operational or financial news.

Future Outlook

NA

Industry Context

This filing reflects a routine disclosure by a major financial institution, Bank of Montreal, regarding its passive investment holdings in a prominent telecommunications company, TELUS CORP. Such disclosures are common for large banks and asset managers who hold diversified portfolios on behalf of clients or for their own investment purposes, aligning with standard institutional investment practices in the telecommunications sector.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Bank of Montreal and its affiliates may be viewed as a sign of institutional confidence in TELUS CORP, although the stake is passive and below the 5% threshold for active reporting.

Key Dates

Keywords

TELUS CORP, Bank of Montreal, Beneficial Ownership, Schedule 13G, Common Shares, Institutional Investor, Passive Investment