Description

TELUS’ 55% Dividend Cut — A Bold Reset To Tackle 3.5x Leverage!

TELUS Corporation reported its second quarter 2026 results amid a transition phase under new leadership following the appointment of Victor Dodig as President and CEO. The company’s strategy centers around restoring financial strength, simplifying operations, and focusing on core telecom and digital infrastructure investments to position for long-term value creation. Financially, TELUS posted service revenues of CAD 4.4 billion, down 1% year-over-year, with adjusted EBITDA declining 2%. The underlying telecom business showed stability, with mobility revenues improving and a third consecutive quarter of mobile network revenue growth, tempered by demographic challenges such as lower immigration impacting addressable market size. Fixed data services remained stable with modest growth in residential customers, while business solutions faced headwinds related to public sector contract variability. The adjusted EPS declined to CAD 0.16 from CAD 0.22 driven primarily by a noncash impairment charge at TELUS Digital.