Telus hikes its dividend

Article Excerpt

TELUS $42.03 (Toronto symbol T; Shares outstanding: 615.0 million; Market cap: $25.6 billion; TSINetwork Rating: Above Average; Dividend yield: 3.8%; www.telus.com) added 113,000 wireless subscribers, net of cancellations, in the three months ended September 30, 2014, up 8.7% from a year earlier. It now has 8.0 million wireless users and continues to attract high-speed Internet and digital TV subscribers, as well. As a result, Telus’s revenue rose 5.4%, to $3.0 billion from $2.9 billion. Earnings gained 6.0%, to $387 million from $365 million. Telus spent $164 million on share buybacks in the latest quarter, so its per-share earnings rose 10.3%, to $0.64 from $0.58. The company also raised its quarterly dividend by 11.1%, to $0.40 a share from $0.36. The new annual rate of $1.60 yields 3.8%. This was the eighth hike since May 2011. Telus is a buy. buy. …