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

TELUS Co. (NYSE:TU) (TSE:T) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Shareholders of record on Wednesday, December 11th will be given a dividend of 0.297 per share by the Wireless communications provider on Thursday, January 2nd. This represents a $1.19 dividend on an annualized basis and a yield of 7.59%. The ex-dividend date of this dividend is Wednesday, December 11th. This is a boost from TELUS’s previous quarterly dividend of $0.28.

TELUS has increased its dividend by an average of 11.9% annually over the last three years. TELUS has a payout ratio of 151.3% 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 $0.76 per share next year, which means the company may not be able to cover its $1.15 annual dividend with an expected future payout ratio of 151.3%.

TELUS Stock Performance

Shares of NYSE TU traded up $0.49 during midday trading on Friday, hitting $15.66. 4,655,139 shares of the stock traded hands, compared to its average volume of 2,275,243. The firm has a market capitalization of $23.36 billion, a P/E ratio of 39.15, a PEG ratio of 2.31 and a beta of 0.75. TELUS has a one year low of $14.63 and a one year high of $19.14. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a 50-day moving average of $16.33 and a two-hundred day moving average of $16.12.

Analyst Ratings Changes

TU has been the topic of several research reports. Canaccord Genuity Group cut TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. Finally, StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.00.

TELUS Company Profile

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.