10 Safest High Dividend Stocks to Buy Now

2. TELUS Corporation (NYSE:TU)

Dividend Yield as of September 20: 7.56%

TELUS Corporation (NYSE:TU) is one of Canada’s leading telecommunications companies. The telecom industry benefits from a steady and recurring revenue stream, supported by a subscriber-based model that is both defensive and profitable.

TELUS Corporation (NYSE:TU) provides wireline, wireless, internet, and TV services to customers nationwide. These offerings have become even more defensive in recent years, and the company is recognized for having some of the lowest churn rates among the major telecom providers.

TELUS Corporation (NYSE:TU) stands out most with its dividend. The company pays a quarterly dividend with a strong 7.56% yield, making it one of the best dividend stocks. On top of that, the company has a long history of rewarding shareholders with consistent dividend increases, spanning 21 years. Currently, the company offers a quarterly dividend of C$0.4163 per share.

TELUS Corporation (NYSE:TU) also provides investors with meaningful growth opportunities. The company is making substantial investments to expand and modernize its network, highlighted by a recently announced $70 billion multi-year plan dedicated to these upgrades.