Dividend information

Dividend policy and dividend growth program

In May 2019, TELUS announced its intention to target ongoing semi-annual dividend increases, with the annual increase in the range of 7 to 10 per cent from 2020 through to the end of 2022. This announcement further extends TELUS’ multi-year dividend growth program originally announced in May 2011 and extended for three additional years in each of May 2013 and May 2016. This program 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 dividend payout ratio guideline in 2019 is 65 to 75 per cent of net earnings per share. So as to be consistent with the way we manage our business, we have revised our target guideline, effective January 1, 2020, to be calculated as 60 to 75 per cent of free cash flow on a prospective basis. There can be no assurance that we will maintain a dividend growth program through 2022.

In August 2020, the TELUS Board of Directors declared a quarterly dividend of $0.29125 per share, payable on October 1, 2020, to shareholders of record at the close of business on September 10, 2020.

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.

Recent dividend history

Record datePayment dateAmount
Q3-20September 10, 2020October 1, 2020$0.29125
Q2-20June 10, 2020July 2, 2020$0.29125
Q1-20March 11, 2020April 1, 2020$0.29125
Q4-19December 11, 2019 January 2, 2020$0.29125
Q3-19September 10, 2019October 1, 2019$0.28125

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
Q2-2010-Sept-2001-Oct-20$0.29125
Q2-2010-Jun-2002-Jul-20$0.29125
Q1-2011-Mar-2001-Apr-20$0.29125
Q4-1911-Dec-1902-Jan-20$0.29125
Q3-1910-Sept-1901-Oct-19$0.28125
Q2-1910-Jun-1902-Jul-19$0.28125
Q1-1911-Mar-1901-Apr-19$0.2725
Q4-1811-Dec-1802-Jan-19$0.2725
Q3-1810-Sept-1801-Oct-18$0.2625
Q2-1808-Jun-1803-July-18$0.2625
Q1-189-Mar-1802-Apr-18$0.2525
Q4-1711-Dec-1702-Jan-18$0.2525
Q3-178-Sept-1702-Oct-17$0.24625
Q2-179-Jun-1704-Jul-17$0.24625
Q1-1710-Mar-1703-Apr-17$0.2400
Q4-169-Dec-1603-Jan-17$0.2400
Q3-169-Sept-1603-Oct-16$0.2300
Q2-1610-Jun-1604-Jul-16$0.2300
Q1-1611-Mar-1601-Apr-16$0.2200
Q4-1511-Dec-1504-Jan-16$0.2200
Q3-1510-Sept-1501-Oct-15$0.2100
Q2-1510-Jun-1502-Jul-15$0.2100
Q1-1511-Mar-1501-Apr-15$0.2000
Q4-1411-Dec-1402-Jan-15$0.2000
Q3-1410-Sep-1401-Oct-14$0.1900
Q2-1410-Jun-1402-Jul-14$0.1900
Q1-1411-Mar-1401-Apr-14$0.1800
Q4-1311-Dec-1302-Jan-14$0.1800
Q3-1310-Sep-1301-Oct-13$0.1700
Q2-1310-Jun-1302-Jul-13$0.1700
Q1-1311-Mar-1301-Apr-13$0.1600
Q4-1211-Dec-1202-Jan-13$0.1600
Q3-1210-Sep-1201-Oct-12$0.1525
Q2-1208-Jun-1203-Jul-12$0.1525
Q1-1209-Mar-1202-Apr-12$0.1450
Q4-1109-Dec-1103-Jan-12$0.1450
Q3-1109-Sep-1103-Oct-11$0.1375
Q2-1110-Jun-1104-Jul-11$0.1375
Q1-1111-Mar-1101-Apr-11$0.13125
Q4-1010-Dec-1004-Jan-11$0.13125
Q3-1010-Sep-1001-Oct-10$0.1250
Q2-1010-Jun-1002-Jul-10$0.1250
Q1-1011-Mar-1001-Apr-10$0.11875
Q4-0911-Dec-0904-Jan-10$0.11875
Q3-0910-Sep-0901-Oct-09$0.11875
Q2-0910-Jun-0902-Jul-09$0.11875
Q1-0911-Mar-0901-Apr-09$0.11875
Q4-0811-Dec-0802-Jan-09$0.11875
Q3-0810-Sep-0801-Oct-08$0.1125
Q2-0810-Jun-0801-Jul-08$0.1125
Q1-0811-Mar-0801-Apr-08$0.1125
Q4-0711-Dec-0701-Jan-08$0.1125
Q3-0710-Sep-0701-Oct-07$0.09375
Q2-0708-Jun-0701-Jul-07$0.09375
Q1-0709-Mar-0701-Apr-07$0.09375
Q4-0611-Dec-0601-Jan-07$0.09375
Q3-0608-Sep-0601-Oct-06$0.06875
Q2-0609-Jun-0601-Jul-06$0.06875
Q1-0610-Mar-0601-Apr-06$0.06875
Q4-0509-Dec-0501-Jan-06$0.06875
Q3-0509-Sep-0501-Oct-05$0.05
Q2-0510-Jun-0501-Jul-05$0.05
Q1-0511-Mar-0501-Apr-05$0.05
Q4-0410-Dec-0401-Jan-05$0.05
Q3-0410-Sep-0401-Oct-04$0.0375
Q2-0410-Jun-0401-Jul-04$0.0375
Q1-0411-Mar-0401-Apr-04$0.0375
Q4-0311-Dec-0301-Jan-04$0.0375
Q3-0310-Sep-0301-Oct-03$0.0375
Q2-0310-Jun-0301-Jul-03$0.0375
Q1-0311-Mar-0301-Apr-03$0.0375
Q4-0211-Dec-0201-Jan-03$0.0375
Q3-0210-Sep-0201-Oct-02$0.0375
Q2-0210-Jun-0201-Jul-02$0.0375
Q1-0211-Mar-0201-Apr-02$0.0375
Q4-0111-Dec-0101-Jan-02$0.0375
Q3-0110-Sep-0101-Oct-01$0.0875
Q2-0108-Jun-0101-Jul-01$0.0875
Q1-0109-Mar-0101-Apr-01$0.0875
Q4-0011-Dec-0001-Jan-01$0.0875
Q3-0008-Sep-0001-Oct-00$0.0875
Q2-0009-Jun-0001-Jul-00$0.0875
Q1-0010-Mar-0001-Apr-00$0.0875
Q4-9910-Dec-9901-Jan-00$0.0875
Q3-9910-Sep-9901-Oct-99$0.0875
Q2-9910-Jun-9901-Jul-99$0.0875
Q1-9911-Mar-9901-Apr-99$0.0875

*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.