Telus Corp

Latest Results (08.09.2025):

Telus Corporation reported its robust financial and operational results for the first quarter of 2025, showcasing strong customer growth, resilient revenue and EBITDA increases, significant free cash flow generation, and a continued commitment to shareholder returns through an increased dividend and an extended dividend growth program.

Customer Growth

Telus Corp achieved an industry-leading total mobile and fixed customer growth of 218,000 in Q1 2025, marking a 9,000 increase compared to the same period last year. This growth was driven by 168,000 new mobile phone and connected device additions and 50,000 fixed customer additions, underscoring the strong demand for Telus's bundled services and leading broadband networks.

Financial Performance

In the first quarter of 2025, Telus Corp's Operating Revenue increased by 3% and Adjusted EBITDA grew by 4% within the TTech segment, including the new TELUS Health segment. Consolidated free cash flow rose by 22%, and cash from operations grew by 13%, reflecting the company's economic resiliency and effective cost management.

Dividend Increase

Telus Corp raised its quarterly dividend by 7% to $0.4163, representing an approximate yield of 8%. This increase aligns with the company's ongoing commitment to delivering superior shareholder value.

Dividend Growth Program

Telus Corp has extended its dividend growth program, targeting an annual growth rate of 3% to 8% for the years 2026 through 2028. This extension is supported by a strong Adjusted EBITDA growth outlook, moderating capital expenditures, and continued free cash flow expansion.

Reaffirmed 2025 Financial Targets

Telus Corp reaffirmed its 2025 financial targets, including TTech Operating Revenues and Adjusted EBITDA growth of 2-4% and 3-5%, respectively. The company also projects Consolidated Capital Expenditures of approximately $2.5 billion and Free Cash Flow of around $2.15 billion, supporting its strategic growth initiatives and dividend program.