Topic: How To Invest

The Successful Investor Hotline – Friday, December 8, 2023

Article Excerpt

TELUS CORP., $25.06, Toronto symbol T, is your #1 Income Buy for 2023. The company 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. Telus recently acquired additional wireless spectrum (or radio frequencies) from the federal government. It paid $620 million for those licences, which is equal to 60% of the $1.03 billion, or $0.71 a share, that the company earned in the first nine months of 2023. As a result of this purchase, Telus can now provide 5G wireless service that covers 96% of Canada, including the major markets. That’s up from 85% as of September 30, 2023. 5G wireless networks are 10 to 100 times faster than the previous 4G standard. Expanding its 5G coverage should help Telus attract more users and increase the fees it receives per subscriber. The company will also now raise your quarterly dividend by 3.4%. Starting with the January 2024 payment, investors…