On Friday, May 9th the Board of Directors of TELUS Corporation (TSE:T) announced a quarterly dividend increase of from C$0.4023 to C$0.4163 per share, that’s payable July 2, 2025 to holders of record June 10, 2025. This represents a 3.48% increase over the last quarterly dividend.
It should be noted that this is the second increase in the last 12 months. In November 2024, TELUS increased quarterly dividend from C$ 0.3891 to C$ 0.4023 or 3.39%, bringing the annual increase to 7.0%.
At the current price of C$22.37 (today's open), this increase will raise TELUS's dividend yield to 7.44%.
TELUS is a member of Canadian Dividend All Star List with a 21 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 7.0, 7.0, 6.7 and 7.4 (Canadian Dividend All-Star List)
As an owner of 380 shares of TELUS Corporation, the recent dividend increase adds $11.37 to my projected annual net dividend income.
This increase was in line with my expectations, as TELUS has outlined a multi-year dividend growth plan, and the latest results are consistent with that trajectory.
This recent dividend increase marks the 11th consecutive raise I’ve received from TELUS since I acquired my first shares in February 2015. Over this period, T’s quarterly dividend has grown in line with expectations from $0.20 to $0.4163 per share, reflecting a 108.2% increase.
The moment of writing, TELUS’s weight of my portfolio is about 0.77% and its share of future annual dividend income is approximately 1.32%.
Following this increase, my yield on cost is 6.93%.
Summary of 2025 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long TSE:T
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