Today the Board of Directors of TELUS Corporation announced a quarterly dividend increase of from CA$0.44 to CA$0.46 per share that’s payable July 4, 2016 to holders of record June 10, 2016. This represents a 9.52% increase year-over-year and 4.55% increase to the last quarter dividend. This was a eleventh dividend increase since TELUS announcing their multi-year dividend growth program in May 2011 With current price CA$39.66 (Yesterday's close), this raise brings their dividend yield to 4.64%.
TELUS announced its intention to target ongoing semi-annual dividend increases, with the annual increase in the range of seven to 10 per cent from 2017 through to the end of 2019. This announcement further extends TELUS’ multi-year dividend growth program originally announced in May 2011 and initially extended in May 2013 and provides investors with ongoing clarity with respect to TELUS’ dividend growth model.
Since I own 150 shares, this will increase my portfolio's projected annual net dividend income by CA$8.94.
That increase rises my YOC to 4.31%.
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