5 Best Telecom Dividend Stocks to Buy for 2022

In this article, we discuss 5 best telecom dividend stocks to buy for 2022. If you want to read our detailed analysis of the telecom sector and its outlook, go directly to read 10 Best Telecom Dividend Stocks to Buy for 2022. 

5. TELUS Corporation (NYSE:TU)

Dividend Yield as of October 18: 5.16%

TELUS Corporation (NYSE:TU) is a Canada-based national telecommunications company that provides a wide range of related products and services including internet access, video streaming, and voice entertainment.

TELUS Corporation (NYSE:TU) has been making uninterrupted dividend payments since 2004, coming through as one of the best dividend stocks on our list. Since then, the company has cumulatively paid $16.6 billion in dividends. Its current quarterly dividend stands at C$0.3386 per share, with a dividend yield of 5.16%, as of October 18.

In Q2 2022, TELUS Corporation (NYSE:TU) reported over $1.2 billion in operating cash flow, up from $1.13 billion in the previous quarter. The company’s free cash flow came in at $234 million, compared with $122 million a quarter earlier. As of July 2022, the company has paid nearly $1.4 billion in dividends to shareholders.

In October, Barclays maintained an Equal Weight rating on TELUS Corporation (NYSE:TU) with a $23 price target, highlighting the company’s defensive revenue streams.

TELUS Corporation (NYSE:TU) was a part of 15 hedge fund portfolios in Q2 2022, the same as in the previous quarter, according to Insider Monkey’s data. The stakes owned by these hedge funds hold a combined value of over $256.5 million. Renaissance Technologies had the largest position in the company in Q2.