TELUS Co. (TSE:T) Declares 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 7.5%. This is a 3.6% increase from TELUS's previous quarterly dividend of $0.40.

TELUS Price Performance

TSE T opened at C$22.32 on Friday. The company has a market cap of C$33.60 billion, a P/E ratio of 36.21, a P/E/G ratio of 1.65 and a beta of 0.72. The company has a fifty day simple moving average of C$22.24 and a 200 day simple moving average of C$21.49. TELUS has a 1 year low of C$19.10 and a 1 year high of C$23.43. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 183.41.

Analyst Ratings Changes

T has been the subject of a number of recent research reports. National Bankshares boosted their target price on TELUS from C$22.00 to C$23.00 and gave the stock a "sector perform" rating in a research report on Friday, June 6th. Royal Bank Of Canada lowered their target price on TELUS from C$25.00 to C$24.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets increased their target price on TELUS from C$23.00 to C$24.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Canaccord Genuity Group raised their price target on TELUS from C$20.25 to C$21.50 in a report on Monday, May 12th. Finally, Scotiabank set a C$24.50 price target on TELUS and gave the stock an "outperform" rating in a research note on Friday, June 13th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.

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