On Friday, November 6 the Board of Directors of TELUS Corporation announced a quarterly dividend increase of from CA$ 0.29125 to CA$ 0.3112 per share that’s payable January 4, 2021 to holders of record December 11, 2020. This represents a 6.85% increase over last quarterly dividend and is the nineteenth dividend increase since TELUS announced its original multi-year dividend growth program in May 2011.
With current price CA$ 24.03 (yesterday's close), this raise brings their dividend yield to 5.18%.
TELUS is a member of Canadian Dividend All Star List with a 16 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 7.3, 7.0, 8.2 and 9.0 (Canadian Dividend All-Star List)
Since I own 380 shares of TELUS, this will increase my portfolio's projected annual net dividend income by CA$ 22.59.
This increase raises my YOC to 5.18%.
Summary of 2020 Dividend Increases / Cuts
As you can see, some large dividend cuts will have the effect that full-year growth will be negative. I also believe that there will come more cuts during this year.
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long TSE:T
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