Dividend information

Dividend policy and dividend growth program

TELUS announced its intention to target ongoing semi-annual dividend increases, with the annual increase in the range of 7 to 10% from 2017 through to the end of 2019. This announcement further extends TELUS’ multi-year dividend growth program originally announced in May 2011 and initially extended in May 2013 and provides investors with ongoing clarity with respect to TELUS’ dividend growth model.

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. Our long-term dividend payout ratio guideline is 65 to 75 per cent of prospective net earnings. There can be no assurance that we will maintain a dividend growth program through 2019.

In November 2018, the TELUS Board of Directors has declared a quarterly dividend of $0.545 cents Canadian per share on the issued and outstanding Common Shares of the Company payable on January 2, 2019 to holders of record at the close of business on December 11, 2018.

Recent dividend history

Record datePayment dateAmount
Q4-18December 11, 2018January 2, 2019$0.5450
Q3-18September 10 2018October 1 2018$0.5250
Q2-18June 8 2018July 3 2018$0.5250
Q1-18March 9 2018April 2 2018$0.5050
Q4-17December 11 2017January 2 2018$0.5050

Changes to settlement cycles for Canadian and US securities

Please note that effective September 5, 2017, the settlement dates for all Canadian and US securities (including TELUS) is being shortened from trade date plus three business days to trade date plus two business days. Please see the following notice from the Toronto Stock Exchange for further information.

Eligible dividends

TELUS Corporation ("TELUS") advises that unless stated below, all Common and Non-Voting share 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.

Exceptions

The following portion of Common and Non-voting share dividends paid on April 1, 2007 are eligible dividends.

Common and non-voting share dividends

EligibleNot eligibleTotal
Common shares*$0.18625/share$0.00125/share$0.1875/share
Non-Voting shares*$0.18625/share$0.00125/share$0.1875/share

*Dividend amounts reflected above have been adjusted for 2-for-1 stock split effective April 16, 2013.

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*

Record datePayment dateAmount
Q3-1810-Sept-1801-Oct-18$0.5250
Q2-1808-Jun-1803-July-18$0.5250
Q1-189-Mar-1802-Apr-18$0.5050
Q4-1711-Dec-1702-Jan-18$0.5050
Q3-178-Sept-1702-Oct-17$0.4925
Q2-179-Jun-1704-Jul-17$0.4925
Q1-1710-Mar-1703-Apr-17$0.4800
Q4-169-Dec-1603-Jan-17$0.4800
Q3-169-Sept-1603-Oct-16$0.4600
Q2-1610-Jun-1604-Jul-16$0.4600
Q1-1611-Mar-1601-Apr-16$0.4400
Q4-1511-Dec-1504-Jan-16$0.4400
Q3-1510-Sept-1501-Oct-15$0.4200
Q2-1510-Jun-1502-Jul-15$0.4200
Q1-1511-Mar-1501-Apr-15$0.4000
Q4-1411-Dec-1402-Jan-15$0.4000
Q3-1410-Sep-1401-Oct-14$0.3800
Q2-1410-Jun-1402-Jul-14$0.3800
Q1-1411-Mar-1401-Apr-14$0.3600
Q4-1311-Dec-1302-Jan-14$0.3600
Q3-1310-Sep-1301-Oct-13$0.3400
Q2-1310-Jun-1302-Jul-13$0.3400
Q1-1311-Mar-1301-Apr-13$0.3200
Q4-1211-Dec-1202-Jan-13$0.3200
Q3-1210-Sep-1201-Oct-12$0.3050
Q2-1208-Jun-1203-Jul-12$0.3050
Q1-1209-Mar-1202-Apr-12$0.2900
Q4-1109-Dec-1103-Jan-12$0.2900
Q3-1109-Sep-1103-Oct-11$0.2750
Q2-1110-Jun-1104-Jul-11$0.2750
Q1-1111-Mar-1101-Apr-11$0.2625
Q4-1010-Dec-1004-Jan-11$0.2625
Q3-1010-Sep-1001-Oct-10$0.2500
Q2-1010-Jun-1002-Jul-10$0.2500
Q1-1011-Mar-1001-Apr-10$0.2375
Q4-0911-Dec-0904-Jan-10$0.2375
Q3-0910-Sep-0901-Oct-09$0.2375
Q2-0910-Jun-0902-Jul-09$0.2375
Q1-0911-Mar-0901-Apr-09$0.2375
Q4-0811-Dec-0802-Jan-09$0.2375
Q3-0810-Sep-0801-Oct-08$0.2250
Q2-0810-Jun-0801-Jul-08$0.2250
Q1-0811-Mar-0801-Apr-08$0.2250
Q4-0711-Dec-0701-Jan-08$0.2250
Q3-0710-Sep-0701-Oct-07$0.1875
Q2-0708-Jun-0701-Jul-07$0.1875
Q1-0709-Mar-0701-Apr-07$0.1875
Q4-0611-Dec-0601-Jan-07$0.1875
Q3-0608-Sep-0601-Oct-06$0.1375
Q2-0609-Jun-0601-Jul-06$0.1375
Q1-0610-Mar-0601-Apr-06$0.1375
Q4-0509-Dec-0501-Jan-06$0.1375
Q3-0509-Sep-0501-Oct-05$0.1000
Q2-0510-Jun-0501-Jul-05$0.1000
Q1-0511-Mar-0501-Apr-05$0.1000
Q4-0410-Dec-0401-Jan-05$0.1000
Q3-0410-Sep-0401-Oct-04$0.0750
Q2-0410-Jun-0401-Jul-04$0.0750
Q1-0411-Mar-0401-Apr-04$0.0750
Q4-0311-Dec-0301-Jan-04$0.0750
Q3-0310-Sep-0301-Oct-03$0.0750
Q2-0310-Jun-0301-Jul-03$0.0750
Q1-0311-Mar-0301-Apr-03$0.0750
Q4-0211-Dec-0201-Jan-03$0.0750
Q3-0210-Sep-0201-Oct-02$0.0750
Q2-0210-Jun-0201-Jul-02$0.0750
Q1-0211-Mar-0201-Apr-02$0.0750
Q4-0111-Dec-0101-Jan-02$0.0750
Q3-0110-Sep-0101-Oct-01$0.1750
Q2-0108-Jun-0101-Jul-01$0.1750
Q1-0109-Mar-0101-Apr-01$0.1750
Q4-0011-Dec-0001-Jan-01$0.1750
Q3-0008-Sep-0001-Oct-00$0.1750
Q2-0009-Jun-0001-Jul-00$0.1750
Q1-0010-Mar-0001-Apr-00$0.1750
Q4-9910-Dec-9901-Jan-00$0.1750
Q3-9910-Sep-9901-Oct-99$0.1750
Q2-9910-Jun-9901-Jul-99$0.1750
Q1-9911-Mar-9901-Apr-99$0.1750

*Dividend payments prior to the July 2, 2013 dividend payment adjusted for 2-for-1 stock split effective April 16, 2013.