Welcome to our dedicated page for Telus Corporation news (Ticker: TU), a resource for investors and traders seeking the latest updates and insights on Telus Corporation stock.
Telus Corporation (TSX: T, NYSE: TU) is Canada’s fastest-growing national telecommunications company, boasting an impressive $12.3 billion in annual revenue and over 13.9 million customer connections. These include 8.4 million wireless subscribers, 3.1 million wireline network access lines, 1.5 million high-speed internet subscribers, and 954,000 Telus TV customers. The company provides a diverse array of communication services and products, from wireless and data to Internet Protocol (IP), voice, television, entertainment, and video services. Notably, Telus is also Canada’s largest healthcare IT provider, a testament to its broad industry impact.
With an economic stake of 55% in Telus International, Telus has expanded its horizon beyond telecom into health, security, and agriculture sectors. Its international endeavors contribute to more than 20% of its sales, driven by recent acquisitions and an aggressive growth strategy.
Recent Achievements: On November 3, 2023, Telus announced its third-quarter results showcasing robust performance, especially in its core telecom business. The strong financial position was further bolstered by cost efficiency initiatives that aim to drive EBITDA expansion and cash flow growth. This strong performance supports their leading dividend growth program, which has been extended through to 2025.
Current Projects: Telus continues to innovate by offering enticing service bundles. Recently, Telus introduced Stream+, a new service package that includes Prime Video, Amazon Prime membership, and more, aiming to provide customers with a comprehensive entertainment experience.
Financial Condition: Telus achieved record customer growth in Q4 2023, driven by strong demand for its mobility and fixed services. Their capital expenditures and free cash flow have also shown a positive trajectory, reflecting a robust balance sheet.
Partnerships: The company recently entered a partnership with Vevo to expand their advertising reach in Canada, offering advertisers access to Vevo’s extensive music video content across major streaming platforms like YouTube, Apple TV, and Roku.
Significance: Telus's industry-leading customer service and strong financial strategies make it a noteworthy player in the global telecommunications landscape. Their focus on leveraging technology to drive social change and improve human outcomes sets them apart as a forward-thinking, socially responsible corporation.
For more information, please visit telus.com.
TELUS has been recognized as the fastest network globally, according to Opensignal, with an average download speed of 75.8 Mbps for 4G LTE, outpacing South Korea's 5G average of 59 Mbps. By the year's end, TELUS will expand its 5G network to 50 Canadian communities, offering speeds up to 1.7 Gbps. Partnerships with local colleges will establish 5G Connected Campuses, enhancing educational resources. Over the next three years, TELUS plans to invest an additional $40 billion to further develop its 5G network, which is projected to create 250,000 jobs and contribute $40 billion annually to the Canadian economy.
TELUS is recognizing TELUS International for its numerous recent accolades that showcase its leadership in customer experience and digital solutions. The awards include the Digital Transformation Award for AI innovation, recognition as a 'Leader' in Everest Group's PEAK Matrix, and several Stevie Awards for outstanding service during the COVID-19 pandemic. With $15 billion in annual revenue, TELUS emphasizes its commitment to customer satisfaction and innovation across sectors, including healthcare and IT.
TELUS has launched its Kits for Kids program, donating 13,000 backpacks filled with essential school supplies and reusable face masks to support students in need during the back-to-school season amid the COVID-19 pandemic. Since its inception in 2006, the initiative has reached over 163,000 children. In addition, TELUS has committed $150 million for pandemic relief efforts, which include providing internet access for low-income families and donating mobile devices to seniors. The company aims to connect all Canadians and enhance community welfare through these initiatives.
TELUS is expanding its high-speed wireless and PureFibre networks across Quebec, targeting an additional 25,000 homes in 45 remote communities. This initiative aims to enhance digital access amid the COVID-19 pandemic, supporting local economies. TELUS has invested nearly $27 billion in Quebec over two decades and plans to connect 99% of families in targeted areas to high-speed internet by 2021. Recent investments include a $15 million project for a submarine optic fibre cable to improve telecommunications security on the North Shore, further enhancing connectivity.
TELUS has launched the Internet for Good program, providing high-speed internet for just $9.95 per month to K-12 students in British Columbia and Alberta. Initially limited to low-income families, the eligibility has expanded thanks to collaboration with local school boards. This effort aims to ensure that all students have access to reliable internet connections for virtual learning during the ongoing health crisis. TELUS has invested $150 million in various support initiatives since the pandemic, including expanding internet access and donating devices to vulnerable Canadians.
TELUS has expanded its Mobility for Good program to Nova Scotia, supporting youth aging out of foster care by providing them with free smartphones and subsidized mobile plans for two years. This initiative aims to help more than 5,400 already enrolled youths connect with essential resources during challenging transitions, particularly heightened by the COVID-19 pandemic. TELUS emphasizes its commitment to improving social and economic outcomes for vulnerable Canadians through technology, while also assisting participants in building financial literacy by having bills registered in their names.
TELUS is expanding its Mobility for Good program to support vulnerable youth in Prince Edward Island. This initiative provides young adults aging out of foster care with a free smartphone and subsidized mobile plan for two years. With over 5,400 participants nationwide, the program aims to enhance social connectivity and financial literacy amidst increased pressures from the COVID-19 pandemic. TELUS is committed to leveraging technology for positive social outcomes, helping youth find housing and job opportunities while fostering independence.
On September 8, 2020, TELUS announced the expansion of its Mobility for Good™ program to Saskatchewan, providing youth aging out of foster care with a free smartphone and a fully subsidized mobile plan for two years. This initiative aims to enhance connectivity and support for over 5,400 youth across Canada, especially during the COVID-19 pandemic. The program has proven effective, with 85% of participants reporting improved connections to their support networks. TELUS continues its commitment to social responsibility through this and other programs aimed at bridging digital divides in Canada.
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