Telus Halts Dividend Hikes to Reduce Debt Amid Share Price Decline

Telus Corp. has paused future dividend increases to cut debt, citing pressure from investors over its debt levels and lack of growth. Shares have fallen 19% in the past three months, and the dividend yield has risen to over 9%. The company aims to reduce its leverage ratio to 3.3 times EBITDA by the end of 2023.