TELUS Reports Q2 2026 Financial Results and Announces Dividend Reset
TELUS Corporation (TSX: T) reported its second-quarter financial results for the period ending June 30, 2026. The company announced a reset of its quarterly dividend to $0.1875 per share as part of strategic priorities aimed at deleveraging and supporting long-term growth. This includes removing the DRIP discount effective October 1, 2026, which is expected to reduce shareholder dilution. TELUS reported mobile phone and internet net additions of 17,000 and 20,000 respectively, with a focus on value-accretive customer growth. The company recorded a $1.8 billion net loss due primarily to an impairment charge related to TELUS Digital's cash-generating unit. Consolidated service revenue declined by 1%, while capital expenditures for the quarter were $678 million. The firm revised its full-year guidance and aims to reduce leverage from 3.5 times Adjusted EBITDA at Q2 end to approximately 3.0 times or lower by year-end 2028.
Tickers: $TU
Topics: capital_allocation dividend_reset DRIP_discount_removal leverage_reduction