In May 2019, TELUS announced its intention to target ongoing semi-annual dividend increases, with the annual increase in the range of 7 to 10 per cent from 2020 through to the end of 2022. This announcement further extends TELUS’ multi-year dividend growth program originally announced in May 2011 and extended for three additional years in each of May 2013 and May 2016. This program provides investors with ongoing clarity with respect to TELUS’ dividend growth model.

Notwithstanding this target, dividend decisions will continue to be subject to our Board’s assessment and the determination of our financial situation and outlook on a quarterly basis. Our dividend payout ratio guideline in 2019 is 65 to 75 per cent of net earnings per share. So as to be consistent with the way we manage our business, we have revised our target guideline, effective January 1, 2020, to be calculated as 60 to 75 per cent of free cash flow on a prospective basis. There can be no assurance that we will maintain a dividend growth program through 2022.

In July 2021, the TELUS Board of Directors declared a quarterly dividend of $0.3162 per share, payable on October 1, 2021, to shareholders of record at the close of business on September 10, 2021.

Two-for-one share-split – March 2020

On February 13, 2020, TELUS announced that its Board of Directors approved a two-for-one share split of the Companys outstanding common shares. On March 17, 2020, TELUS shareholders received one additional common share for each common share owned on the record date of March 13, 2020. Dividend information presented on this page reflects the share split unless otherwise noted.

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