Telus Corp (T.TO)

An ex-CEO from CIBC now leads Telus. The market expected the dividend cut, but was cut more than expected. They kept revenue and EBITDA guidance. They want to sell non-core assets, but an announcement has yet to come, and will focus on core telecom business. All this led to a share decline, and telcos have been weak. Immigration no longer drives growth. She doesn't like the telcos. Still waiting on the sidelines.

His firm doesn't buy companies that cut their dividends. Until it can put together a cadence of growing its dividend (based on sustainable cashflow growth and balance sheet strength), which won't be anytime soon, they're not going near it. Cheap for a reason.

Not much to like in the past few years, worst performer in her portfolio. Lowered guidance. Dividend cut was by correct amount. Expectations are completely low, stock's completely washed out, all the downgrades came yesterday. 

Still best in class on fibre coverage and telecom assets. Asset sales to come. New CEO is the right person for the job, did an incredible job at CM. Not a revenue growth stock, but nowhere to go but up. Yield is 5.42%.

Even after the dividend cut, it still pays 6% which is sustainable. If their capex spending is over, they can pay down some debt and sell non-core assets. Maybe two years out, there will be a re-valuation. Otherwise, you have to be a long-term holder of this.

Dividend cut by 55%, goal is to repair balance sheet. Still Canada's largest telco, but today's selloff is about a major reset. Core business still adding wireless and internet customers. Weakness at Telus Digital, and too much debt. Stay on the sidelines until debt and cashflow clearly improve. Today's yield is closer to 5.6%.

A tough one. The dividend has been expected to be for a long, long time. When BCE cut its dividend, its shares did not take, because the cut was priced in. The big question is about the operating businesses. Watch their call about their cash flow which cannot sustain the dividend. Before selling it, watch the Q2 report and CEO remarks closely.

Almost right at the bottom of the Canadian RSI ranking. Steadily declining for over a year. Right now, nothing to suggest a turnaround. Remains in a downtrend, unable to move above $15 after falling below.

It had a downtrend within a channel in 2023-2025, but has since broken down. It might rally, but wouldn't count on much more than that.

Both are looking for growth down the road and watching expenses. In the immediate future, earnings growth for both looks fairly benign -- below 5% in both cases. Interest rates in Canada could potentially move higher later this year, which doesn't bode well for the high-dividend payers.

Both are below their 200-day MAs. You want to put your $$ where it makes the most sense, and he's not sure telcos are that place right now. He owns no telcos.

She really thought the bottom was ~$18. (She was wrong. Sigh.) Thinks dividend will be cut, though they probably don't actually need to. She's expecting a "kitchen sink" quarter, so she didn't make this a Top Pick.

Likes the underlying businesses. Really good job pivoting toward AI and data centres. Further ahead on capex for fibre to the home. Going to start selling its copper in the ground.

At the end of the day, barriers to entry are really high and it has defensive characteristics of critical infrastructure. History has shown that when a sector's out of favour like this, it's a good time to buy.

The telcos spend a lot to get into digital as Ottawa keeps phone rates low. But dividends are high, though Bell has cut theirs and the rumour is that new management (next week) will eventually cut. The Telus dividend is 11%, so if they cut it to 6%, it's still competitive. He owns a bit of Telus at $19. Thinks he will be okay in the long run. Telcos are no longer a growth industry.

Shareholders are running away. New CEO is going to clean house and probably cut dividend (likely in half). That would solve problems with payout ratio and balance sheet. If you buy here, yield is ~11%. Building sovereign AI and investing in it; market's concerned about this outlay of capital (especially with rates moving higher). 

Lots more upside. Trusts this company. Still decent 13% EPS growth, trading ~15x. Likes it here. Sell a put to oblige yourself to buy it lower if you're too afraid to buy at today's price.