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Topic: Dividend Stocks

TELUS CORP. – Toronto symbols T $68 and T.A $68

TELUS CORP. (Toronto symbols T $68 and T.A $68; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 326.0 million; Market cap: $22.2 billion; Price-to-sales ratio: 2.0; Dividend yield: 3.6%; TSINetwork Rating: Above Average; www.telus.com) has received court approval for its plan to convert its 151 million non-voting class A shares into regular common shares (which have one vote each) on a one-for-one basis.

The company converted the shares in the U.S. on February 4, 2013. The move dilutes common shareholders’ voting power, but it lets the common shares trade on the New York Stock Exchange (symbol TU). Previously, only the non-voting shares traded on New York. The change should make the common shares more liquid. Telus will make the conversion in Canada on February 11, 2013.

Telus A stock is a buy.

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