Telus Stock Price, News & Analysis

TELUS Corporation (NYSE: TU, TSX: T) is a communications technology company that combines traditional connectivity services with digital platforms in health, agriculture, consumer goods and customer experience. According to company disclosures, TELUS operates in more than 45 countries and generates over C$20 billion in annual revenue, with more than 20 million customer connections through its broadband services for consumers, businesses and the public sector.

In the telecommunications arena, TELUS is described as a world‑leading communications technology company that delivers an advanced suite of broadband services. These services support mobile and fixed connectivity for millions of customer connections, forming the core of the company’s TTech segment. TELUS reports that its TTech subscriber base includes mobile phones, connected devices, internet, TV, security and automation, and residential voice connections, reflecting a broad base of consumer and business relationships.

Business segments and diversification

TELUS highlights several key business platforms beyond core connectivity. TELUS Health focuses on preventive medicine and well‑being technologies, and is described as enhancing more than 160 million lives across 200 countries and territories. The company notes that TELUS Health delivers digital health product offerings and capabilities, and that its global healthcare platforms have expanded through acquisitions and integration activities, including the integration of LifeWorks and the acquisition of Workplace Options.

TELUS Agriculture & Consumer Goods utilizes digital technologies and data insights to optimize the connection between producers and consumers. This business is positioned by the company as part of its non‑telecom diversification, aligning with earlier descriptions that a meaningful portion of revenue comes from non‑telecom activities in areas such as agriculture and consumer goods.

TELUS Digital, a wholly‑owned subsidiary of TELUS Corporation, specializes in digital customer experiences and future‑focused digital transformations. TELUS Digital describes its portfolio as including customer experience management, digital solutions such as cloud solutions, AI‑fueled automation, front‑end digital design and consulting services, AI and data solutions including computer vision, and trust, safety and security services. It also operates Fuel iX™, a proprietary platform and suite of products for managing, monitoring and maintaining generative AI across the enterprise.

Global footprint and technology focus

Company materials state that TELUS operates in more than 45 countries, with TELUS Health alone serving lives across over 200 countries and territories. TELUS Digital notes site builds and operations in regions including Asia‑Pacific and Europe, while TELUS Health references growth across multiple operating regions. This international footprint supports a mix of connectivity, health, agriculture, consumer goods and digital experience services for clients around the world.

TELUS emphasizes the role of artificial intelligence, digital platforms and cloud services across its businesses. TELUS Digital’s Fuel iX platform is highlighted for enabling enterprise generative AI deployment across existing systems, helping clients accelerate onboarding, boost agent productivity and improve customer experiences. The company also points to expertise in areas such as CCaaS (contact‑center‑as‑a‑service), cloud services and integrations with platforms like Salesforce, which support modernization of legacy systems and deployment of AI capabilities in customer engagement environments.

Capital allocation and financial structure

TELUS communications describe an active capital allocation framework that includes debt management, hybrid note offerings, asset monetization and share repurchases. The company has announced multiple offerings of fixed‑to‑fixed rate junior subordinated notes in both U.S. and Canadian dollars, and has undertaken cash tender offers for several series of long‑dated notes. It has also given notice of full redemption of specific note series ahead of maturity and has used proceeds from new offerings to fund tender offers and debt redemptions.

In addition, TELUS has a normal course issuer bid that allows for repurchase and cancellation of common shares, and has disclosed share purchases by members of its board of directors and executive leadership team. The company links these actions to a broader deleveraging strategy, including targets for net debt to adjusted EBITDA over a multi‑year period, and to its approach to capital allocation and shareholder returns.

Health monetisation and partnerships

TELUS has announced that it engaged TD Securities Inc. and Jefferies Securities, Inc. as financial advisors to assist with strategy and timeline for the monetisation of its TELUS Health business. According to the company, this work may include the identification and evaluation of potential strategic partnerships and partnership structures. TELUS characterizes TELUS Health as an asset of consequence with global scale, serving more than 160 million lives and operating across over 200 countries and territories.

The company describes the TELUS Health monetisation strategy as one of several levers within its deleveraging plan and capital allocation framework. TELUS has indicated that it is evaluating opportunities to welcome a strategic partner to add complementary skills, customer reach and economic capacity to drive growth and scale in TELUS Health.

Digital customer experience and AI

TELUS Digital has been recognized in third‑party evaluations for its customer experience services transformation capabilities. In one analyst report cited by the company, TELUS Digital was named a Leader across evaluation categories including overall capabilities, customer experience improvement, cost optimization and revenue generation. The report highlighted TELUS Digital’s dedicated generative AI and agentic AI development platform Fuel iX, its trust and safety practice, AI operations and training services, and its ecosystem of strategic enterprise technology partnerships.

Through TELUS Digital, the company positions itself as both an operator and a service provider, bringing consulting‑led digital transformations to clients and offering integrated marketing, CX and sales enablement offerings. TELUS Digital notes that it supports clients in deploying AI‑driven engagement, asynchronous communication and digital innovation, while maintaining a vendor‑agnostic approach that allows integration with existing technology stacks.

Connectivity infrastructure and network investments

TELUS reports substantial investments in its wireless and PureFibre broadband infrastructure. As of the end of the third quarter of 2025, the company stated that its 5G network covered approximately 32.9 million Canadians, representing over 89 per cent of the population. TELUS also references its PureFibre network build and a transition toward a partner‑build model for certain fibre deployments, as well as investments in real estate development such as TELUS Ocean in Victoria, British Columbia.

The company has also participated in infrastructure partnerships, including the establishment of Terrion, described as Canada’s largest dedicated wireless tower operator, through a transaction with La Caisse. TELUS notes that Terrion operates thousands of wireless sites and is constructing multi‑carrier towers, which the company associates with enhanced wireless connectivity and balance sheet benefits.

Corporate purpose and community investment

TELUS consistently emphasizes a purpose‑driven approach, stating that it is committed to leveraging its technology to enable “remarkable human outcomes.” The company describes itself as passionate about putting customers and communities first and refers to its focus on social capitalism. TELUS highlights its long‑standing “give where we live” philosophy, under which TELUS, team members and retirees have contributed approximately C$1.8 billion in cash, in‑kind contributions, time and programs since 2000, including 2.4 million days of service. TELUS states that these contributions have earned it recognition as the world’s most giving company.

The company also references specific community initiatives such as the TELUS Student Bursary, which aims to support access to postsecondary education for young people in Canada. TELUS reports that this program has distributed over C$6 million in bursaries to more than 1,600 students. Environmental initiatives include a long‑term tree‑planting program, through which TELUS notes that its team has planted 25 million trees over 25 years, with an associated impact on carbon absorption when these trees fully mature.

Dividends and shareholder returns

TELUS’ board of directors declares regular quarterly dividends on the company’s common shares. The company has communicated a dividend growth model in the past and has more recently discussed a pause in dividend growth while maintaining the nominal dividend level, in the context of its capital allocation framework and deleveraging plan. TELUS has also outlined a schedule to step down and ultimately remove the discount on its dividend reinvestment plan over several years.

In addition to dividends, TELUS points to free cash flow generation, share repurchases under its normal course issuer bid and asset monetisation initiatives as components of its approach to shareholder value. The company has provided medium‑term targets for free cash flow growth and leverage metrics, while noting that dividend decisions remain subject to board assessment of financial position and outlook.

Position within telecommunications and digital services

Earlier descriptions characterize TELUS as one of the Big Three wireless service providers in Canada, with millions of mobile phone subscribers and a significant share of the national market. TELUS is also identified as the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television and landline phone services, and as having a smaller wireline presence in eastern Quebec. These connectivity operations, combined with its global health, agriculture, consumer goods and digital customer experience businesses, position TELUS as a diversified communications technology company with both domestic and international activities.