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Telus: 7% Dividend Growth From A SWAN Investment

Published Tue, 17 Sep 2019 15:39:18 -0400 on Seeking Alpha

Investment Thesis
Telus Corporation (TU) is a high quality dividend growth stock with a record of consistently growing its recurring revenue. Telus operates in a regulated oligopoly style industry where high barriers to entry ensure that the large incumbents will continue to earn above average returns. In May, 2019 Telus announced dividend guidance on semi-annual increases of 7-10% annually from 2020-2022. This further extends a dividend program that was originally announced in 2011 and has been extended 3 times now. With a 4.45% yield, Telus has a great dividend profile which makes it very attractive to long term investors seeking dividend income. Telus is well situated to benefit from themes in health care, mobile data growth, increased mobile phone penetration and its fibre to the home infrastructure build out. As the telecommunications industry in Canada matures, wireless revenue growth is expected to moderate. Increased wireline revenue from Telus's Fibre to the Home initiative will help offset flattening average revenue per user in the mobile segment.
Please note that all figures are reported in Canadian dollars.
Company Profile
Telus was formed through the privatization of the crown corporation Alberta Government Telephone or "AGT" in 1990. In 1998, the Alberta company merged with BC Tel to form the modern Telus Corporation and moved its headquarters from Edmonton to Vancouver. While Telus is the dominant telecommunications provider in Western Canada,... Read more

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BCE - BCE
BCE - BCE  


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