Telus Corp (T-T)

Everyone who wants a cellphone already has one. The market is not increasing. Not expensive. Trying to sell towers in the States, which makes sense. Core business is not growing the way it used to.

He invests in Telus bonds instead of the shares. Credit is very good, still investment-grade. Marketable assets. No issue with default in any of the big 3 telcos.

For the equity side: not a lot of growth, price competition, CRTC always making new rules. Big dividend is enticing, but not for him.

Buy at this level or definitely hold on. He owns Quebecor and this. Like this. Well-managed. They were early investing in their infrastructure, and that capex cycle is coming down. This generate lots of free cash flow to increase their dividend each year (unlike BCE or Rogers). Telus has undervalued assets including in the health space, tech and real estate; can monetize these. Pays a great yield.

It remains his favourite telco. Very well-managed. Have increased their dividend 27 times. Selling some of their infrastructure will be good to reduce debt. Still likes it.

All telcos are challenged: balance sheet, capital intensive, higher interest rates, competition, less immigration, need to pursue asset sales.

Great dividend name. Best of the bunch. Is this the very best stock to buy right now? No; there are others with more visibility and less hair on them. But this is a good one for the Canadian dividend tax credit. You never know what you don't know, and things can change for the better quickly.

Challenged sector for several years, mainly since interest rates started rising. Bond proxies that are pretty compelling when there's financial repression as we had from 2008-2022. You have to pick your spots. Likes Telus, but not the rest.

Telus dividend is more secure, yielding ~7.5%. Continues its cadence of dividend growth by 3% twice a year. Price war is abating. Selling non-core real estate and monetizing old copper.

Tower sales gave stock a bounce. Large capex business. May be forced to cut dividend. CRTC always makes for such a difficult environment to operate in. Great management, good job diversifying.

He actually likes both. Looking at price action over the last few days, these names have held up rather well. Sector's bottomed out. Both names have high dividend yields, tremendous FCF, lots of opportunity going forward to buy back stock. Worst is over for the sector, phenomenal opportunity.

With BCE, you should anticipate a dividend cut; this would be fine with him, as it will free up $$ to reduce debt and possibly buy back stock. If that happens, it would be a positive rather than causing the bottom to fall out of the stock. Investment community wants it to cut the dividend, reduce debt, and undertake a better allocation strategy. Still throwing off significant cashflow. Too early to say if it overpaid for the Ziply acquisition.

Telus has done better, with better growth. Invested in other things to diversify its business. 

Good entry point as a long-term hold for income. Could never call this a high-growth stock. Lower-growth, stable, defensive name that owns critical infrastructure. Usually performs well during recessionary periods. Probably in best position among peers -- further along in fibre to the home buildout, better financial position, a bit more "growth" (as in 2% instead of 1%). Yield is 7%, with usually 2 increases a year.

Her firm likes to be really conservative with clients. If you get most of your return in the form of a dividend, then you're not relying as much on an increase in the stock price.

At these levels, this whole area is a buy, and this name is a very strong buy. Probably washed out, multi-year lows. Culprits for that are too much debt, imperfect CRTC decisions, increased competition, and less immigration. Yield is 7.8%, and safer than BCE's.

Valuation ~15x is much more reasonable than it's been in years. 2025 won't be great, but beyond that he's modeling decent growth around 13%. Asset sale of towers is a really good catalyst to right the balance sheet. Better use of capital than to have it tied up in that kind of infrastructure.

It was doing well, until people started questioning their dividend last week. But Telus raised their dividend last November, and they know what they're doing with their future business. This has gotten much cheaper in recent months. If the rest of the market is negative, this and BCE could look a lot better. Trades cheaply, pays dividends and works in a protected industry.

Chart shows a neckline ~$22.50, and it's trying to break that. You'd probably see some of the momentum indicators hooking up on the nice move. Struggling a bit at that $22.50. If it breaks out, very good news. He wouldn't buy until it broke out.

He owns some but is not keen on the telecom sector. Should be OK with its investment in fiber optics and more free cash flow. He is comfortable with the dividend.

Owns only a little Telus and telcos. The dividend is safer than BCE's, but less than Roger's. Telus should be okay, because they invested in fibre optic to the home before others. So, will be lower capex and operating expensives, and more cash flow. Is comfortable with their dividend.

Not high-growth. Balance sheet isn't clean. And there's political pressure to open up the teleco market. There are safer places.