TELUS Co. (NYSE:TU) Raises 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. Investors 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 yield of 7.50%. The ex-dividend date of this dividend is Tuesday, June 10th. This is a 5.7% increase from TELUS's previous quarterly dividend of $0.28.

TELUS has increased its dividend payment by an average of 7.0% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. TELUS has a dividend payout ratio of 151.9% meaning 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 $1.20 annual dividend with an expected future payout ratio of 153.8%.

TELUS Stock Performance

Shares of TELUS stock traded down $0.06 during mid-day trading on Monday, hitting $15.94. 2,810,958 shares of the stock were exchanged, compared to its average volume of 2,894,345. TELUS has a 12 month low of $13.24 and a 12 month high of $17.27. The company has a 50-day simple moving average of $14.80 and a 200 day simple moving average of $14.82. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The company has a market capitalization of $24.13 billion, a P/E ratio of 32.52, a P/E/G ratio of 5.18 and a beta of 0.73.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. TELUS had a net margin of 4.85% and a return on equity of 9.07%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business earned $0.10 EPS. Sell-side analysts anticipate that TELUS will post 0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on TU. Cormark lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Finally, StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, TELUS has an average rating of "Hold".

TELUS Company Profile

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.

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