TELUS Co. (NYSE:TU) Increases Dividend to $0.30 Per Share

TELUS Co. (NYSE:TU - Get Free Report) TSE: T declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Stockholders of record on Tuesday, June 10th will be paid a dividend of 0.2989 per share by the Wireless communications provider on Wednesday, July 2nd. This represents a $1.20 annualized dividend and a dividend yield of 7.58%. The ex-dividend date is Tuesday, June 10th. This is a 5.7% increase from TELUS's previous quarterly dividend of $0.28.

TELUS has raised its dividend payment by an average of 7.0% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. TELUS has a payout ratio of 151.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect TELUS to earn $0.78 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 153.8%.

TELUS Stock Performance

Shares of TU stock traded up $0.08 on Friday, hitting $15.78. 1,957,446 shares of the stock traded hands, compared to its average volume of 2,914,310. The company's fifty day moving average is $14.81 and its 200 day moving average is $14.82. TELUS has a 1-year low of $13.24 and a 1-year high of $17.27. The company has a market capitalization of $23.89 billion, a PE ratio of 32.20, a PEG ratio of 5.18 and a beta of 0.73. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61.

Analysts Set New Price Targets

Several research firms have recently commented on TU. StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group boosted their price target on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a report on Monday, May 12th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.