TELUS Corporation (TU) to Issue Quarterly Dividend of C$0.42 on April 1st

TELUS Corporation (NYSE:TU) (TSE:T) declared a quarterly dividend on Wednesday, February 11th. Investors of record on Wednesday, March 11th will be paid a dividend of 0.4184 per share by the Wireless communications provider on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Wednesday, March 11th.

TELUS has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 5 years. TELUS has a dividend payout ratio of 148.8% meaning 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 $1.19 annual dividend with an expected future payout ratio of 152.6%.

TELUS Stock Performance

TELUS stock traded down $0.46 during mid-day trading on Friday, reaching $13.48. 11,838,561 shares of the stock traded hands, compared to its average volume of 5,826,914. TELUS has a 12-month low of $12.54 and a 12-month high of $16.74. The business’s 50-day moving average is $13.40 and its 200-day moving average is $14.65. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.76 and a quick ratio of 0.71. The stock has a market capitalization of $20.86 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.85 billion. TELUS had a net margin of 5.71% and a return on equity of 8.76%. During the same period in the previous year, the firm earned $0.25 EPS. As a group, sell-side analysts predict that TELUS will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On TELUS

Several hedge funds have recently added to or reduced their stakes in TU. Geode Capital Management LLC grew its position in shares of TELUS by 20.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,529,471 shares of the Wireless communications provider’s stock worth $76,335,000 after buying an additional 780,607 shares in the last quarter. Scotia Capital Inc. lifted its stake in TELUS by 1.6% in the second quarter. Scotia Capital Inc. now owns 18,842,084 shares of the Wireless communications provider’s stock worth $302,519,000 after acquiring an additional 288,532 shares during the period. Picton Mahoney Asset Management purchased a new stake in TELUS in the second quarter worth about $51,091,000. Prudential PLC bought a new position in TELUS during the 2nd quarter worth about $531,000. Finally, SG Americas Securities LLC purchased a new position in TELUS during the 2nd quarter valued at about $457,000. 49.40% of the stock is currently owned by institutional investors.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.