Telus' Dividend Rate Seen Safe From Cuts -- Market Talk

Dow Jones11-27

1152 ET - Telus' dividend outlook remains sustainable, TD Cowen analyst Vince Valentini says. Management's commitment to monetize noncore assets and reduce debt should lower interest costs and allow free cash flow to fully pay for dividends by 2027. Concerns about a potential dividend cut, similar to BCE's, are misplaced, Valentini says. Telus is working with a lower post-lease payout ratio than BCE pre-dividend cut, as well as higher fiber penetration that reduces capex, and a revenue mix with organic growth potential. What's more, Valentini expects these factors to drive a recovery in Telus' share price, and says even at a 7% dividend yield, which is above BCE's and nearly double Rogers', the stock could trade at around C$24. Shares are up less than 1% on the day at C$18.32. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

November 26, 2025 11:52 ET (16:52 GMT)

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Management's commitment to monetize noncore assets and reduce debt should lower interest costs and allow free cash flow to fully pay for dividends by 2027. Concerns about a potential dividend cut, similar to BCE's, are misplaced, Valentini says. Telus is working with a lower post-lease payout ratio than BCE pre-dividend cut, as well as higher fiber penetration that reduces capex, and a revenue mix with organic growth potential. What's more, Valentini expects these factors to drive a recovery in Telus' share price, and says even at a 7% dividend yield, which is above BCE's and nearly double Rogers', the stock could trade at around C$24. Shares are up less than 1% on the day at C$18.32. 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