TELUS Corporation (TU) to Issue Quarterly Dividend of C$0.42 on July 2nd

TELUS Corporation (NYSE:TU) (TSE:T) announced a quarterly dividend on Thursday, May 7th. Investors of record on Wednesday, June 10th will be paid a dividend of 0.4184 per share by the Wireless communications provider on Thursday, July 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date of this dividend is Wednesday, June 10th.

TELUS has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 5 years. TELUS has a payout ratio of 151.3% meaning 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 $0.74 per share next year, which means the company may not be able to cover its $1.21 annual dividend with an expected future payout ratio of 163.5%.

TELUS Stock Up 0.1%

Shares of TU stock opened at $12.33 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. TELUS has a 1 year low of $11.69 and a 1 year high of $16.74. The firm’s fifty day moving average price is $12.47 and its two-hundred day moving average price is $13.07. The firm has a market capitalization of $19.40 billion, a P/E ratio of 28.01, a PEG ratio of 12.10 and a beta of 0.61.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business earned $0.26 EPS. The company’s revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that TELUS will post 0.71 EPS for the current fiscal year.

Institutional Trading of TELUS

Hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC lifted its position in shares of TELUS by 320.0% in the fourth quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 1,712 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of TELUS in the fourth quarter valued at approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of TELUS by 129.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock worth $33,000 after buying an additional 1,393 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of TELUS during the 4th quarter worth about $55,000. Finally, State of Wyoming bought a new stake in shares of TELUS during the 2nd quarter worth about $61,000. 49.40% of the stock is owned by institutional investors and hedge funds.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.