TELUS Corporation (NYSE:TU) Shares Set to Pay Quarterly Dividend of C$0.19

TELUS Corporation (NYSE:TU) (TSE:T) declared a quarterly dividend on Friday, November 6th. Investors of record on Friday, December 11th will be paid a dividend of C$0.19 per share by the Wireless communications provider on Monday, January 4th. This represents a $0.75 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date is Friday, December 11th.

TELUS has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. TELUS has a payout ratio of 67.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TELUS to earn $0.51 per share next year, which means the company may not be able to cover its $0.54 annual dividend with an expected future payout ratio of 105.9%.

TELUS Price Performance

TU traded down $0.35 during trading on Friday, hitting $9.06. 11,361,738 shares of the stock traded hands, compared to its average volume of 6,353,278. TELUS has a twelve month low of $7.64 and a twelve month high of $14.95. The company has a market cap of $14.40 billion, a price-to-earnings ratio of -22.11, a PEG ratio of 21.73 and a beta of 0.63. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.67 and a quick ratio of 0.62. The business has a 50 day moving average price of $8.73 and a 200 day moving average price of $11.26.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, November 6th. The Wireless communications provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. Equities research analysts forecast that TELUS will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TELUS

A number of hedge funds and other institutional investors have recently bought and sold shares of TU. The Manufacturers Life Insurance Company increased its holdings in TELUS by 21.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock worth $309,159,000 after purchasing an additional 4,258,557 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of TELUS by 20.4% during the first quarter. Bank of Nova Scotia now owns 21,108,090 shares of the Wireless communications provider’s stock worth $271,237,000 after purchasing an additional 3,571,734 shares during the last quarter. First Trust Advisors LP increased its stake in shares of TELUS by 5.2% in the first quarter. First Trust Advisors LP now owns 9,844,098 shares of the Wireless communications provider’s stock valued at $126,343,000 after buying an additional 486,043 shares during the period. Letko Brosseau & Associates Inc. increased its stake in shares of TELUS by 33.6% in the third quarter. Letko Brosseau & Associates Inc. now owns 13,649,828 shares of the Wireless communications provider’s stock valued at $114,890,000 after buying an additional 3,429,575 shares during the period. Finally, Bank of America Corp DE bought a new position in TELUS in the 2nd quarter valued at approximately $75,058,000. Institutional investors own 49.40% of the company’s stock.

About TELUS

TELUS Corporation is a Canadian communications and technology company headquartered in Vancouver, British Columbia. It provides telecommunications and digital services to consumers, businesses and public-sector organizations, primarily in Canada.

Its core offerings include wireless voice and data services, high-speed internet, television, home security and fixed-line voice services. TELUS also provides business connectivity, cloud, cybersecurity, information technology and communications solutions.