TELUS Co. (TSE:T) Plans Dividend Increase - $0.42 Per Share

Key Points

• TELUS Co. has announced an increase in its quarterly dividend to $0.4163 per share, representing a 3.6% rise from the previous dividend.
• The dividend will be distributed to investors on October 1st, with a current yield of 7.5%.
• TELUS's stock has been rated as a "Hold" by analysts, with a consensus target price of C$23.04.

TELUS Co. (TSE:T - Get Free Report) NYSE: TU declared a quarterly dividend on Friday, August 1st, RTT News reports. Investors of record on Wednesday, September 10th will be paid a dividend of 0.4163 per share on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 7.7%. This is a 3.6% increase from TELUS's previous quarterly dividend of $0.40.

TELUS Trading Down 3.5%

TSE T traded down C$0.78 during trading hours on Monday, reaching C$21.54. The company's stock had a trading volume of 6,032,973 shares, compared to its average volume of 3,983,428. The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52. TELUS has a 52 week low of C$19.10 and a 52 week high of C$23.43. The firm has a fifty day simple moving average of C$22.23 and a 200-day simple moving average of C$21.53. The stock has a market cap of C$32.43 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.65 and a beta of 0.72.

Wall Street Analysts Forecast Growth

T has been the subject of several research reports. BMO Capital Markets lifted their price target on shares of TELUS from C$23.00 to C$24.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Scotiabank set a C$24.50 price target on shares of TELUS and gave the company an "outperform" rating in a research report on Friday, June 13th. Royal Bank Of Canada reduced their price target on shares of TELUS from C$25.00 to C$24.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Canaccord Genuity Group lifted their price objective on shares of TELUS from C$20.25 to C$21.50 in a report on Monday, May 12th. Finally, National Bankshares lifted their price objective on shares of TELUS from C$22.00 to C$23.00 and gave the stock a "sector perform" rating in a report on Friday, June 6th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$23.04.

About TELUS

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services.