TELUS Corporation (TU): A Top Canadian Telecom Stock with Growing Dividend Potential
A businessman looking up in awe at the top of a telecom tower as it spreads its vast interconnectivity.
TELUS Corporation (NYSE:TU) is one of the three major telecommunications companies in Canada, with a customer base of over 9 million mobile users. This represents about one-third of the country's market. In addition to wireless services, the company also provides internet, TV, and landline connections. It has recently begun upgrading from its older copper network to fiber optic cables in an effort to deliver better value and improved service quality to customers.
In the first quarter of 2025, TELUS Corporation (NYSE:TU) delivered solid performance, reporting a 22% increase in consolidated free cash flow compared to the same period last year, along with a 13% rise in operating cash flow. Supported by a strong outlook for adjusted EBITDA growth, lower capital expenditures, and continued free cash flow expansion, the company plans to extend its dividend growth program, aiming for annual increases between 3% and 8% from 2026 through 2028.
TELUS Corporation (NYSE:TU) is one of the best dividend Canadian stocks, as the company has raised its payouts every year since 2004. Since then, it has returned approximately $28 billion to shareholders through dividends. The company currently offers a quarterly dividend of C$0.4163 per share and has a dividend yield of 7.44%, as of July 15.
While we acknowledge the potential of TU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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