TELUS Corporation (NYSE:TU) Announces Quarterly Dividend of C$0.42

TELUS Corporation (NYSE:TU) (TSE:T) declared a quarterly dividend on Friday, November 7th. Shareholders of record on Thursday, December 11th will be paid a dividend of 0.4184 per share by the Wireless communications provider on Friday, January 2nd. This represents a c) annualized dividend and a yield of 11.3%. The ex-dividend date of this dividend is Thursday, December 11th. This is a 38.6% increase from TELUS’s previous quarterly dividend of $0.30.

TELUS has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. TELUS has a payout ratio of 151.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect TELUS to earn $0.78 per share next year, which means the company may not be able to cover its $1.21 annual dividend with an expected future payout ratio of 155.1%.

TELUS Price Performance

NYSE TU traded up $0.18 on Friday, hitting $14.79. 6,938,262 shares of the company’s stock were exchanged, compared to its average volume of 3,556,666. TELUS has a 52 week low of $13.24 and a 52 week high of $16.74. The stock has a 50-day moving average of $15.54 and a 200-day moving average of $15.86. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. The stock has a market cap of $22.69 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 4.36 and a beta of 0.71.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of TELUS in a research report on Thursday, October 30th. Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.50.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.