TELUS Co. (NYSE:TU) to Issue Dividend Increase – $0.28 Per Share

TELUS Co. (NYSE:TU) (TSE:T) announced a quarterly dividend on Friday, August 2nd, Zacks reports. Stockholders of record on Tuesday, September 10th will be paid a dividend of 0.284 per share by the Wireless communications provider on Tuesday, October 1st. This represents a $1.14 annualized dividend and a dividend yield of 6.74%. The ex-dividend date is Tuesday, September 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.28.

TELUS has raised its dividend by an average of 11.9% per year over the last three years. TELUS has a payout ratio of 147.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect TELUS to earn $0.80 per share next year, which means the company may not be able to cover its $1.15 annual dividend with an expected future payout ratio of 143.8%.

TELUS Trading Up 0.2 %

Shares of NYSE TU opened at $16.86 on Monday. TELUS has a fifty-two week low of $14.63 and a fifty-two week high of $19.14. The firm has a market capitalization of $24.99 billion, a P/E ratio of 43.23, a P/E/G ratio of 2.57 and a beta of 0.74. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. The company’s 50 day simple moving average is $15.93 and its 200 day simple moving average is $16.20.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the business posted $0.14 EPS. On average, analysts predict that TELUS will post 0.73 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on TU. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Friday. Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.33.

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.