SCHEDULE: Bank of Montreal Amends TELUS Corp. Stake Disclosure

Bank of Montreal and its affiliates have filed an amended Schedule 13G, disclosing their beneficial ownership of 3.78% of TELUS Corp. common shares.

Summary

• Bank of Montreal and its affiliated entities collectively beneficially own 58,129,433 common shares of TELUS Corp.
• This aggregate ownership represents 3.78% of TELUS Corp.'s outstanding common shares.
• The filing is an Amendment No. 1 to a previous Schedule 13G statement.
• The beneficial ownership is held by various Bank of Montreal subsidiaries, including BANK OF MONTREAL HOLDING INC., BMO NESBITT BURNS INC. WEALTH MANAGEMENT, BMO NESBITT BURNS SECURITIES LTD., BMO PRIVATE INVESTMENT COUNSEL INC., BMO ASSET MANAGEMENT INC., BMO NESBITT BURNS INC., and BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of TELUS Corp.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership by an institutional investor, providing factual information without inherent positive or negative sentiment regarding the issuer's performance or outlook.

Positives

• NA

Negatives

• NA

Risks

• NA

Future Outlook

NA

Industry Context

This filing indicates a significant, but non-controlling, institutional investment by a major Canadian financial institution, Bank of Montreal, in a prominent Canadian telecommunications company, TELUS Corp. Such holdings are common for large banks managing various client portfolios and proprietary investments, reflecting a routine investment activity rather than a strategic corporate maneuver.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holding in TELUS Corp., confirming Bank of Montreal's continued investment interest without seeking control.

Next Steps

• NA

Key Dates

Keywords

TELUS Corp, Bank of Montreal, BMO, Beneficial Ownership, Schedule 13G, Common Shares, Institutional Investor, Equity Stake, Canadian Bank, Telecommunications