Dividend increase: Telus

Article Excerpt

TELUS CORP. $48 (Toronto symbol T; Income-Growth Dividend Payer Portfolio, Utilities sector; Shares outstanding: 594.0 million; Market cap: $28.5 billion; Dividend yield: 4.2%; Dividend Sustainability Rating: Highest; www.telus.com) is Canada’s third-largest wireless carrier, after Rogers Communications (No. 1) and BCE (No. 2), with 8.8 million subscribers. In addition, its wireline business serves 1.3 million traditional phone customers in B.C., Alberta and eastern Quebec. That operation also has 1.7 million Internet users and 1.1 million TV subscribers. In January 2018, Telus increases its quarterly dividend 2.5%, to $0.505 a share from $0.4925. The new annual rate for $2.02 yields a high 4.2%. The company has now raised the payment each year for the past 14 years. It also plans to increase its annual dividend by 7% to 10% each year through 2019. Telus is a top pick for 2017. 2017…