TELUS Co. (TU) To Go Ex-Dividend on June 10th

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 given a dividend of 0.2989 per share by the Wireless communications provider on Wednesday, July 2nd. This represents a $1.20 annualized dividend and a yield of 7.63%. The ex-dividend date is Tuesday, June 10th. This is a 5.7% increase from TELUS’s previous quarterly dividend of $0.28.

TELUS has increased its dividend payment by an average of 7.0% annually over the last three years and has increased its dividend every year for the last 4 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. 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 NYSE TU opened at $15.68 on Wednesday. The firm has a 50-day simple moving average of $14.81 and a 200-day simple moving average of $14.82. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. TELUS has a 52 week low of $13.24 and a 52 week high of $17.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TU shares. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. Canaccord Genuity Group upped their target price 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 cut shares of TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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.