Telus halted dividend growth because of share price drop, CFO says [Globe and Mail, The (Toronto, Canada)]
Telus Corporation Ordinary Shares (TU)
Last telus corporation ordinary shares earnings: 2/13 06:45 am
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Source: Globe and Mail, The
On Wednesday, Telus abruptly paused its dividend growth, saying it would keep its quarterly payout at its current level until its share price “reflects growth prospects.” Analysts reacted positively to the news, saying it could help the share price recover. Telus chief financial officer Doug French said in an interview with The Globe and Mail Thursday morning that after the stock price did not recover, executives felt it was “time to reassess” the previous plan to continue growing the dividend. “Your dividend yield should be reflective of the risk and of your organization. And so, when it is up at 9 per cent, it is definitely not reflective of what we believe the future value proposition is,” Mr. French said. Telus halts dividend increases after analysts call payout growth plan unsustainable The decision to pause the dividend was preceded by conversations with investors, he said. Mr. French said chief executive officer Darren Entwistle and management suggested to the board
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