TELUS Stock (TSX: T, NYSE: TU) Freezes Dividend Growth and Targets 10% Free Cash Flow Gains Through 2028
TELUS said December 3 it will freeze its quarterly dividend at C$0.4184 per share and phase out its discounted DRIP, ending its multi-year dividend growth plan. The company set a three-year free cash flow growth target and aims to cut its net-debt-to-EBITDA ratio from 3.5× to 3.0× by 2027. Shares traded near 52-week lows, with a yield close to 9%.