Telus invests to spur its growth

Article Excerpt

Dear safe-money investor: Telus recently paid BCE Inc. $300 million for part of its Manitoba Telecom wireless business. As a result, Telus now expects to spend a total of $3.0 billion in 2017 to upgrade its wireless and high-speed Internet networks. That’s up from its earlier forecast of $2.9 billion. Network up grades help the company hang on to its customers and attract new ones in its highly competitive market. TELUS $44.68 (Toronto symbol T; Shares outstanding: 591.0 million; Market cap: $26.3 billion; TSINetwork Rating: Above Average; Dividend yield: 4.4%; www.telus.com) is Canada’s second-largest wireless carrier (after Rogers Communications) with 8.6 million subscribers. In addition, its wireline business serves 1.35 million traditional phone customers in B.C., Alberta and eastern Quebec. The company also serves 1.7 million Internet users and 1.1 million TV customers. In the quarter ended March 31, 2017, Telus’s earnings per share rose 5.7%, to $0.74 from $0.70. Revenue increased 2.9%, to $3.2 billion from $3.1 billion a year earlier. That…