Telus raises its dividend

Article Excerpt

TELUS $41.96 (Toronto symbol T; Shares o/s: 591.7 million; Market cap: $25.1 billion; TSINetwork Rating: Above Average; Divd yield: 4.6%; www.telus.com) is Canada’s second-largest wireless carrier (after Rogers Communications) with 8.4 million subscribers. Its wireline business serves 1.4 million landline phone customers in B.C., Alberta and eastern Quebec. In addition, the company serves 1.6 million Internet users and 1.0 million cable TV customers. Telus will raise its quarterly dividend by 4.3% with the January 2017 payment, to $0.48 a share from $0.46. The new annual rate of $1.92 yields 4.6%. The increase is part of a plan to raise the dividend twice a year for 2017, 2018 and 2019. Telus expects the average yearly increase to be between 7% and 10%. Telus is a buy. buy…