CALGARY, Feb. 21, 2012 /PRNewswire/ - NOTICE IS HEREBY GIVEN that the Board of Directors has declared a quarterly dividend of sixty-one cents ($0.61) Canadian per share on the issued and outstanding Common shares and sixty-one cents ($0.61) Canadian per share on the issued and outstanding Non-Voting shares of the Company payable on July 3, 2012, to holders of record at the close of business on June 8, 2012.
In the event that the proposed share conversion of Non-Voting Shares to Common Shares on a one-for-one basis receives all requisite approvals and is effective prior to the dividend record date of June 8, 2012, holders of record on such date who previously held Non-Voting Shares would hold Common Shares and would therefore receive the same dividend as all other holders of Common Shares.
This new quarterly dividend is a three cent or 5.2 per cent increase from the $0.58 quarterly dividends paid on January 3 and to be paid on April 2, 2012 and 10.9 per cent increase from the $0.55 quarterly dividend paid in July 2011.
Telus is Canada's third largest telecom company that has a major holding in western Canada. Telus has a current dividend payout ratio of 63%. Telus also raised its dividend twice last year, but its prior dividend growth looks like a can of smashed A-holes. Take a look for yourself in the chart below: