The Canadian Investor Is It Too Late to Buy Silver and Is TELUS Dividend at Risk?
Jan 12, 2026
The discussion delves into whether TELUS might face a dividend cut like BCE’s. They highlight TELUS's improving cash flow and the importance of its capital-light segments. Concerns are raised about the potential triggers for a dividend reduction, including stalled growth and regulatory pressures. Shifting gears, the hosts explore the recent surge in silver prices, driven by geopolitical factors and supply issues, emphasizing the industrial demand for silver over its traditional monetary role. They also advise on safely gaining exposure to silver.
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TELUS Versus BCE: Different Trajectories
- TELUS's dividend looks uncovered today but its free cash flow is improving versus BCE's deteriorating position before Bell's cut.
- TELUS's capital-light segments like TELUS Health and TELUS Digital provide higher-growth levers absent at BCE.
Guidance Is The Key Dividend Determinant
- TELUS is guiding higher free cash flow next year and 10% annual growth thereafter, which could restore dividend coverage.
- Missing that guidance would materially raise cut risk despite current optimism.
Watch Growth, Regulation, And Share Price
- Monitor TELUS's tech-segment growth and regulatory moves because those scenarios could force a dividend cut.
- If share price weakness prices in a cut, expect management might choose to cut to clear the uncertainty.