Regular increases sustain its appeal

Article Excerpt

Starting in 2011, telecom Telus began rewarding its shareholders with twice yearly dividend increases. Under the current version of the plan, the company committed to increasing the annual rate by between 7% and 10% from 2023 through the end of 2025. More dividend increases beyond 2025 seem likely now that Telus has largely completed a multi-year plan to expand its 5G cellular and fibre-optic networks. These upgrades have helped it attract new customers and to sell more services to existing users. TELUS CORP. $22 a buy. The company (Toronto symbol T; Income-Growth Portfolio, Utilities sector; Shares outstanding: 1.5 billion; Market cap: $33.0 billion; Dividend yield: 7.3%; Dividend Sustainability Rating: Highest; www.telus.com) is Canada’s largest wireless carrier with 13.6 million subscribers. It also sells landline phone, Internet, TV, and security services in B.C., Alberta and eastern Quebec. In addition, the company owns 85.4% of Telus International (Cda) Inc. (Toronto symbol TIXT), which operates call centres on behalf of over 650 corporate clients in 32 countries. It also helps…