Telus has frozen its dividend growth and is seeking a strategic partner to invest in Telus Health, arguing its current share price fails to reflect the company’s long-term growth prospects. The telecom will also discontinue its discounted share dividend program and accelerate asset sales.
Chief financial officer Doug French said Telus aims to integrate recent acquisitions LifeWorks and Workplace Options before securing a partner investment valued between $1 billion and $2 billion, potentially through a joint venture within 18 months. Telus is also exploring partnership opportunities for Telus Agriculture. Shares rose roughly 2.4 percent on the announcement.
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