TELUS Co. (NYSE:TU) Declares Quarterly Dividend of $0.28

TELUS Co. (NYSE:TU) (TSE:T) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Investors of record on Monday, June 10th will be paid a dividend of 0.282 per share by the Wireless communications provider on Tuesday, July 2nd. This represents a $1.13 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend is Monday, June 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.28.

TELUS has increased its dividend payment by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 3 years. TELUS has a dividend payout ratio of 127.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect TELUS to earn $0.85 per share next year, which means the company may not be able to cover its $1.11 annual dividend with an expected future payout ratio of 130.6%.

TELUS Stock Performance

TU traded down $0.07 on Friday, reaching $16.34. The company had a trading volume of 281,193 shares, compared to its average volume of 2,424,642. The stock has a 50-day moving average price of $16.37 and a 200-day moving average price of $17.24. TELUS has a 1 year low of $15.35 and a 1 year high of $20.67. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $24.12 billion, a PE ratio of 38.16, a P/E/G ratio of 2.00 and a beta of 0.71.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. TELUS had a net margin of 4.18% and a return on equity of 7.81%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the prior year, the company earned $0.17 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that TELUS will post 0.76 EPS for the current fiscal year.

Analyst Ratings Changes

TU has been the subject of a number of research reports. BMO Capital Markets reduced their target price on shares of TELUS from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, February 12th. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Finally, Scotiabank reissued a “sector perform” rating and issued a $26.00 target price (down previously from $28.00) on shares of TELUS in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, TELUS currently has an average rating of “Hold” and a consensus target price of $27.72.

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.