Dividend re-start is a positive sign

Article Excerpt

Telus recently raised its dividend after putting increases on hold due to COVID-19 disruptions. The latest move is a good sign that the company will return to its regular pattern of rising your dividend every six months. TELUS CORP. $26 is a buy. The company (Toronto symbol T; Income-Growth Dividend Payer Portfolio, Utilities sector; Shares o/s: 1.3 billion; Market cap: $33.8 billion; Dividend yield: 4.8%; Dividend Sustainability Rating: Highest; www.telus.com) is Canada’s third-largest wireless carrier after Rogers Communications (No. 1) and Bell Mobility (No. 2). It also sells landline phone, Internet, TV and home security services in B.C., Alberta and eastern Quebec. Telus tends to raise its quarterly dividend twice a year. However, it skipped the planned July 2020 increase due to uncertainty caused by COVID-19. The company had to deal with the closure of retail stores and the suspension of data overage fees for Internet customers. Now that its operations are returning to normal, Telus will raise your quarterly dividend by 6.8%. Starting with the January…