TSX:TTelecom
TELUS (TSX:T) Is Down 5.7% After Pausing Dividend Growth And Issuing Hybrid Debt For Deleveraging – Has The Bull Case Changed?
In early December 2025, TELUS moved to reshape its balance sheet and capital allocation by issuing junior subordinated notes in both US$1.50 billion and C$800.00 million tranches, alongside tender offers for several long-dated bonds, while also pausing dividend growth and planning to phase out its discounted Dividend Reinvestment Plan.
This shift toward debt refinancing, deleveraging, and fully cash-covered dividends marks a clear reset of TELUS’s long-running income-focused approach in...