TELUS Co. (NYSE:TU) Plans Quarterly Dividend of $0.30

TELUS Co. (NYSE:TU) (TSE:T) announced a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Investors of record on Tuesday, June 10th will be paid a dividend of 0.2989 per share by the Wireless communications provider on Wednesday, July 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.63%. The ex-dividend date of this dividend is Tuesday, June 10th. This is a 5.7% increase from TELUS’s previous quarterly dividend of $0.28.

TELUS has raised its dividend payment by an average of 7.0% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. TELUS has a payout ratio of 151.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect TELUS to earn $0.78 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 153.8%.

TELUS Price Performance

Shares of TU stock opened at $15.68 on Wednesday. The business’s 50 day moving average price is $14.81 and its 200-day moving average price is $14.82. TELUS has a fifty-two week low of $13.24 and a fifty-two week high of $17.27. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The firm has a market cap of $23.74 billion, a P/E ratio of 32.00, a P/E/G ratio of 5.18 and a beta of 0.73.

Analyst Ratings Changes

TU has been the topic of a number of research reports. Bank of America downgraded TELUS from a “buy” rating to a “neutral” rating in a research note on Friday, March 21st. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Canaccord Genuity Group lifted their price target on shares of TELUS from $20.25 to $21.50 and gave the company a “hold” rating in a research note on Monday. Finally, Cormark downgraded TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.50.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.