TELUS Co. (TSE:T) Declares Dividend Increase – $0.40 Per Share

TELUS Co. (TSE:T) (NYSE:TU) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Stockholders of record on Wednesday, December 11th will be given a dividend of 0.402 per share on Thursday, January 2nd. This represents a $1.61 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date is Wednesday, December 11th. This is a boost from TELUS’s previous quarterly dividend of $0.39.

TELUS Price Performance

Shares of TELUS stock traded up C$0.79 during trading hours on Friday, reaching C$21.81. 6,629,800 shares of the company’s stock were exchanged, compared to its average volume of 3,323,421. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 171.58. TELUS has a 1 year low of C$20.04 and a 1 year high of C$25.94. The business has a fifty day moving average of C$22.31 and a two-hundred day moving average of C$22.06. The company has a market capitalization of C$32.28 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72.

Analysts Set New Price Targets

T has been the subject of a number of analyst reports. Canaccord Genuity Group lowered shares of TELUS from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$23.00 to C$21.50 in a report on Tuesday, August 6th. Barclays dropped their price objective on shares of TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. Royal Bank of Canada dropped their price objective on shares of TELUS from C$26.00 to C$25.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. TD Securities dropped their price objective on shares of TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, CIBC dropped their price objective on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.54.

Insider Transactions at TELUS

In other TELUS news, Director Marc Parent purchased 10,530 shares of TELUS stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of C$22.52 per share, with a total value of C$237,135.60. Corporate insiders own 0.02% of the company’s stock.

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.