Telus Inc. T-T is pausing its dividend growth until its “share price reflects growth prospects,” the company said in a release Wednesday morning.
The company’s stock price was down 6.9 per cent year-to-date on the Toronto Stock Exchange as of market close on Tuesday, and down 17 per cent since the same time last year.
The company will continue to pay its quarterly dividend at the most recent level of $0.4184 per share.
The move comes after suggestions from some analysts that the telecom company’s dividend payout growth plan was unsustainable.