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SHAREHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2024
Share Capital, Reserves And Other Equity Interest [Abstract]  
SHAREHOLDERS' EQUITY SHAREHOLDERS' EQUITY
CAPITAL STOCK
Share classNumber of shares authorized for issueFeaturesVoting rights
Preferred shares400,000,000 ●Issuable in series, with rights and terms of each series to be fixed by the Board prior to the issue of any series●None
RCI Class A Voting Shares112,474,388 ●Without par value●
Each share entitled to 50 votes
●
Each share can be converted into one Class B Non-Voting share
RCI Class B Non-Voting Shares1,400,000,000 ●Without par value●None

RCI's Articles of Continuance under the Business Corporations Act (British Columbia) impose restrictions on the transfer, voting, and issue of Class A Shares and Class B Non-Voting Shares to ensure we remain qualified to hold or obtain licences required to carry on certain of our business undertakings in Canada. We are authorized to refuse to register transfers of any of our shares to any person who is not a Canadian, as defined in RCI's Articles of Continuance, in order to ensure Rogers remains qualified to hold the licences referred to above.

In relation to our issuances of subordinated notes in prior years (see note 23), the Board approved the creation of new Series I and Series II preferred shares, respectively. Series I has been authorized for up to 3.3 million preferred shares and Series II has been authorized for up to 1.4 million preferred shares. Both series have no voting rights, par values of $1,000 per share, and will be issued automatically upon the occurrence of certain events involving a bankruptcy or insolvency of RCI to holders of the respective subordinated notes.

On April 3, 2023, we issued 23.6 million Class B Non-Voting Shares as partial consideration for the Shaw Transaction (see note 3).

DIVIDENDS
We declared and paid the following dividends on our outstanding Class A Shares and Class B Non-Voting Shares:
Dividends paid (in millions of dollars)
Number of Class B
Non-Voting
Shares issued
(in thousands) 1
Declaration dateRecord datePayment date
Dividend per
share (dollars)
In cash
In Class B
Non-Voting
Shares
Total
January 31, 2024March 11, 2024April 3, 20240.50 183 83 266 1,552 
April 23, 2024June 10, 2024July 5, 20240.50 185 81 266 1,651 
July 23, 2024September 9, 2024October 3, 20240.50 181 86 267 1,633 
October 23, 2024December 9, 2024January 3, 20250.50 185 84 269 1,943 
February 1, 2023March 10, 2023April 3, 20230.50 252 — 252 — 
April 25, 2023June 9, 2023July 5, 20230.50 264 — 264 — 
July 25, 2023September 8, 2023October 3, 20230.50 191 74 265 1,454 
November 8, 2023December 8, 2023January 2, 20240.50 190 75 265 1,244 
1    Class B Non-Voting Shares are issued as partial settlement of our quarterly dividend payable on the payment date under the terms of our dividend reinvestment plan (DRIP).

We have a dividend reinvestment plan (DRIP) that allows eligible holders of Class A Shares and Class B Non-Voting Shares who are residents of Canada and the United States to acquire additional Class B Non-Voting Shares through reinvestment of the cash dividends paid on their respective shareholdings. During 2023, the plan was amended to permit, at the Board's discretion, a small discount from the five-day volume-weighted average market price when shares are issued from treasury under the plan. Previously, all Class B Non-Voting Shares received by participants under the plan were purchased in the Canadian open market with no discount.

The holders of Class A Shares are entitled to receive dividends at the rate of up to five cents per share but only after dividends at the rate of five cents per share have been paid or set aside on the Class B Non-Voting Shares. Class A Shares and Class B Non-Voting Shares therefore participate equally in dividends above $0.05 per share.
On January 29, 2025, the Board declared a quarterly dividend of $0.50 per Class A Voting Share and Class B Non-Voting Share, to be paid on April 2, 2025, to shareholders of record on March 10, 2025.