Topic: How To Invest

The Successful Investor Hotline – Friday, February 10, 2023

Article Excerpt

TELUS CORP., $27.25, Toronto symbol T, is your #1 Income Buy for 2023. The company is Canada’s second-largest wireless carrier (after BCE) with 12.16 million subscribers. It also sells landline phone, Internet and TV services in B.C., Alberta and eastern Quebec. With the January 2023 payment, Telus increased your quarterly dividend by 3.7%, to $0.3511 a share from $0.3386. The new annual rate of $1.404 yields a high 5.2%. Moreover, the company has pledged to raise the annual dividend rate by between 7% and 10% from 2023 through the end of 2025. In the quarter ended December 31, 2022, Telus added 112,000 new wireless phone subscribers (net of cancellations); that’s unchanged from a year earlier. The average monthly revenue per user moved up 2.2%, to $58.69 from $57.45. As well, the company added 106,000 new users of other wireless devices (tablets, etc.) in the quarter. That’s up 30.9% from 81,000 net additions a year earlier. Thanks to those new subscribers, Telus’s revenue in the quarter…