Thursday, November 4th the Board of TELUS Corporation (TSX: T) announced a quarterly dividend increase of from CA$ 0.3162 to CA$ 0.3274 per share that’s payable January 4, 2022 to holders of record December 10, 2021. This represents a 3.54% increase over the last quarterly dividend.
It should be noted that this is the second increase in 2021. In May, TELUS increased from C$ 0.3112 to C$ 0.3162 or 1.61%, bringing the annual increase to 5.21 per cent.
With current price CA$ 29.23 (yesterday's close), this raise brings their dividend yield to 4.48%.
TELUS is a member of Canadian Dividend All Star List with a 17 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.2, 6.4, 7.1 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 $ 10.19.
This increase was in line with my expectations, TELUS has published a multi-year dividend growth plan and this was in line with it.
This increase raises my YOC to 5.45%.
Summary of 2021 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long TSX:T
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