Is TELUS (TU) One of the 10 Canadian Stocks with Highest Dividends?

TELUS Corporation (NYSE:TU) is included among the 10 Canadian Stocks with Highest Dividends.

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On April 14, Barclays analyst Lauren Bonham lowered the firm’s price recommendation on TELUS Corporation (NYSE:TU) to C$19 from C$20. It reiterated an Equal Weight rating as part of a Q1 preview. The firm said the “attractiveness of defensive” in the cable sector is being weighed down by ongoing promotional pricing pressure and weaker volumes across core telecom segments.

On April 10, Scotiabank downgraded TU to Sector Perform from Outperform and reduced its price target to C$21.50 from C$23. The firm said the stock’s outlook “remains too clouded by what-if scenarios to offset the continued high and unsustainable dividend distribution model.” The analyst added that continued pressure on subscriber growth and pricing in the Canadian telecom market could force Telus to cut its dividend to “placate the market.” Scotiabank also noted that while asset sales may help reduce leverage, they do not address the company’s payout ratio.

TELUS Corporation (NYSE:TU) operates as a communications technology company. It provides broadband services to consumers, businesses, and the public sector through its TELUS technology solutions, TELUS digital experience, and TELUS health segments.

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