As of 04 February 2026, TELUS Corporation (TSX: T) continues to be a focal point for Canadian income investors, trading at C$18.92 in pre-market action. While the telecommunications giant maintains its reputation as a high-yield dividend play, the start of 2026 has been marked by regulatory friction and a strategic pivot toward artificial intelligence to bolster its enterprise offerings.
Market Performance and Valuation
TELUS shares have shown resilience in early 2026, posting a 4.9% return year-to-date. This follows a period of consolidation where the stock dipped below its 200-day moving average. Analysts currently maintain a “Moderate Buy” consensus, with a one-year price target estimated at C$21.71. Despite the recent uptick, the stock remains down approximately 3.7% over the last 12 months, reflecting broader sector challenges and high interest rates that have pressured capital-intensive telecom providers.
Dividend Profile
The primary draw for TELUS remains its aggressive capital return programme. Following the dividend payment on 02 January 2026, the company continues to offer one of the most competitive yields on the Toronto Stock Exchange.
| Metric | Details (CAD) |
|---|---|
| Current Share Price (Pre-market) | $18.92 |
| Quarterly Dividend (Last Paid) | $0.4184 |
| Annualized Dividend | $1.67 |
| Dividend Yield | 8.85% |
| 52-Week High | $23.29 |
Recent Developments: CRTC Complaints and AI Integration
The competitive landscape in Canada has intensified this week. TELUS has filed a formal complaint with the CRTC, alleging that Bell Canada has “drastically degraded” its ability to onboard new customers via shared fibre network infrastructure. This regulatory spat highlights the ongoing tension between Canada’s “Big Three” as they race to monetize multi-billion dollar fibre investments.
On the innovation front, TELUS expanded its partnership with RingCentral in late January 2026. The collaboration aims to integrate advanced AI features into the “TELUS Business Connect” platform. This move is seen by analysts as a necessary step to transition from a traditional “dumb pipe” utility to a high-margin software and service provider, potentially offsetting the high payout ratio concerns voiced by some contrarian investors.
FAQ
When was the last TELUS dividend paid?
The most recent quarterly dividend of $0.4184 per share was paid on 02 January 2026 to shareholders of record as of mid-December 2025.
Is TELUS stock considered a “Buy” in 2026?
According to current market data, TELUS holds a “Moderate Buy” rating from analysts. While the 8.85% yield is attractive, some experts caution regarding the company’s high payout ratio and the competitive pressures within the Canadian telecom sector.
What is the current 12-month price target for TELUS (TSX: T)?
The consensus one-year target estimate for TELUS on the Toronto Stock Exchange is approximately C$21.71, suggesting a potential upside of roughly 14% from current levels, excluding dividend distributions.