Telus targets satellites

Article Excerpt

TELUS, $24.08, is a buy. The company (Toronto symbol T; Shares outstanding: 1.5 billion; Market cap: $35.3 billion; TSINetwork Rating: Above Average; Dividend yield: 6.2%; www.telus.com) had 12.87 million wireless subscribers as of September 30, 2023. It also sells landline phone, Internet and TV services in B.C., Alberta and eastern Quebec. The company is now testing a way for smartphone users in remote regions to access wireless phone and Internet data using satellites. It will probably take two to three years before smartphones with the necessary components to access satellite signals are widely available; still, this new kind of connection should spur demand for Telus’s services. Meantime, with the January 2024 payment, the company increased your quarterly payment by 3.4%. The stock now yields 6.2%. Telus Corp. is a buy. buy…