Telus benefits from EV trend

Article Excerpt

TELUS, $25.99, is a buy. The stock (Toronto symbol T; Shares o/s: 1.4 billion; Market cap: $37.2 billion; TSINetwork Rating: Above Average; Dividend yield: 5.6%; www.telus.com) is Canada’s second-largest wireless carrier (after BCE) with 12.16 million subscribers. It also sells landline phone, Internet and TV services in B.C., Alberta and eastern Quebec. Telus is now teaming up with Jolt, an Australian firm that makes charging stations for electric vehicles (EVs). Under this alliance, Jolt will install up to 5,000 low-cost EV charging stations in Canada. The partners will use Telus’s wireless networks to monitor those stations. This new deal should help improve Telus’s appeal with big institutional investors, who are increasingly focused on companies with high environmental, social, and governance (ESG) scores. Meantime, with the July 2023 payment, Telus is raising your quarterly dividend by 3.6%, to $0.3636 a share from $0.3511. The new annual rate of $1.4544 yields a high 5.6%. Telus Corp. is a buy. buy…