Telus Corp. $43.02 - Toronto symbol T

TELUS CORP. $43.02 (Toronto symbol T; Shares outstanding: 593.2 million; Market cap: $25.6 billion; TSINetwork Rating: Above Average; Dividend yield: 4.3%; www.telus.com) raised its quarterly dividend by 4.3% with the July 2016 payment, to $0.46 from $0.44. The new annual dividend rate of $1.84 yields 4.3%.

The company now plans to increase its dividend twice a year for 2017, 2018 and 2019. It expects the average annual increase to be between 7% and 10%.

In addition, Telus plans to repurchase $250 million of its shares each year for the next three years.

Telus is a buy.

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