Dividend information

Dividend policy and dividend growth program

In May 2022, we announced our intention to target ongoing semi-annual dividend increases, with the annual increase in the range of 7 to 10% from 2023 through to the end of 2025. This announcement further extends our dividend program originally announced in May 2011 and extended for 3 additional years in each of May 2013, May 2016 and May 2019. Our long-term Common Share dividend payout ratio guideline is 60 to 75% of free cash flow on a prospective basis.

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. There can be no assurance that we will maintain a dividend growth program through 2025.

In February 2023, the TELUS Board of Directors declared a quarterly dividend of $0.3511 per share, payable on April 3, 2023, to shareholders of record at the close of business on March 10, 2023.

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 Company's 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.

Eligible dividends

TELUS Corporation advises that unless stated, all quarterly dividends paid since January 2006 are "eligible dividends" as defined by subsection 89(1) of the Income Tax Act. Under this legislation individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce the income tax otherwise payable. Dividends paid on April 1, 2007 included a portion “not eligible”.

Please contact Investor Relations for further details (ir@telus.com).

Dividend reinvestment and share purchase plan

Investors may take advantage of the automatic dividend reinvestment and share purchase plan to acquire additional common shares without fees. Under this plan, eligible shareholders can have their dividends reinvested automatically into additional shares.

We also offer a share purchase feature, under which eligible shareholders can, on a monthly basis, buy TELUS shares (maximum $20,000 per calendar year and minimum $100 per transaction) without brokerage commissions or service charges.

Dividend history*

*Dividend payments prior to the July 2, 2020 dividend payment adjusted for two-for-one share split effective March 17, 2020 and the two-for-one share split effective April 16, 2013.