Offer to purchase CLEARNET.pdf - About TELUS

TELUS CORPORATION
(FORMERLY BCT.TELUS COMMUNICATIONS INC.)
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
Years Ended December 31
1999 1998
(millions)
Balance at beginning of year ........................................... $1,495.9 $1,772.3
Net income ........................................................ 349.7 66.9
1,845.6 1,839.2
Less — Preference and preferred share dividends ............................ 3.5 3.5
— Premium paid on repurchase of shares .............................. 1.3 33.8
— Merger costs (Note 1(a)) ........................................ 51.9 —
— Common share dividends ........................................ 331.4 306.0
Balance at end of year ................................................ $1,457.5 $1,495.9
I-5