TELUS

Telus posted $301 million in net income this quarter, more than doubling last year’s result. The Vancouver-based telecom added over 1.1 million subscriptions across its service lines, prompting a 7% dividend increase to $1.67 annually. While average revenue per mobile user declined, customer growth—particularly for unlimited North America plans—strengthened performance.

Telus Health and Telus Digital also contributed rising revenue. The results come in stark contrast to Bell’s, which cut its dividend by over 50% to manage debt. Telus’s diversified strategy appears to be cushioning it against industry pressures and securing long-term shareholder value.

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Canada’s telecom companies are sitting on billions in copper, yet theft is rising as they replace old copper networks with fibre-optics. Telus projects $500M from copper recycling over five years, while Bell cites security concerns, with 88% of network break-ins linked to copper theft.

In Hamilton, theft reports nearly tripled from 2022 to 2023. Rogers downplays copper’s value but also faces vandalism. Telcos are pushing for stricter laws, arguing the current penalties fail to deter criminals. With copper demand set to rise, industry leaders warn the problem may worsen without stronger legal protections.

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Telus has introduced a new $12-per-month software service to help reduce home energy bills. This service, called SmartEnergy, connects to devices such as thermostats and electrical outlets, providing real-time insights on energy consumption. Customers could see a 15% reduction in their power bills, Telus claims.

Led by Dwayne Benefield, a former T-Mobile and Sony executive, the initiative is part of Telus’ broader smart-home strategy. The company plans to integrate the service into an all-in-one app, adding AI support with its assistant, Jarvis. Telus joins rivals Bell and Rogers in the competitive smart-home market.

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Telus, Canada’s third-largest telecom, is venturing into real estate by repurposing land once used for its copper-cable network. The company, which has nearly completed its transition to fibre optics, is transforming around 200 decommissioned properties into rental housing.

Under the Telus Living initiative, two residential buildings are under construction in British Columbia, expected to provide 254 units by next year. With plans to develop up to 16 more sites, Telus could add 2,500 to 2,800 units. This move might eventually lead to the formation of a real estate investment trust.

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