TELUS SLASHES DIVIDEND 55%, PLANS ASSET SALES

The dividend reduction marks a significant shift in Telus's capital allocation strategy under Dodig's leadership. The company will pursue asset sales to strengthen its financial position, with the health division identified as a potential source of divestment. The moves signal Dodig's prioritization of balance sheet repair over shareholder payouts. Telus joins other telecom operators globally in reassessing dividend policies amid rising interest rates and capital intensity in the sector. The asset sales strategy suggests the company may redirect resources toward core telecommunications infrastructure and debt reduction. Health services, which Telus has built through acquisitions and organic growth, represent a non-core asset that could generate liquidity. Dodig's restructuring plan reflects broader industry pressures as Canadian carriers navigate competitive pressures, 5G investment requirements, and macroeconomic headwinds. The dividend cut will free up capital previously distributed to shareholders for operational and financial priorities.