TELUS (TSX:T)(NYSE:TU) is another stable dividend stock that has held up strongly against this market correction. It’s resting on its 50-day simple moving average, which still has its uptrend intact.
Telus has invested in its telecom infrastructure for decades. Its 4G LTE infrastructure covers about 99% of the Canadian population.
It’s focused on a growth strategy and continues to invest in its broadband technology, thus enabling it to stay relevant for the future, including getting its network ready for 5G deployment down the road.
Most Canadians can’t do without their internet or smartphones. This enables Telus to increase the pricing of its products and services every year at a rate that’s better than inflation.
Telus stock has increased its dividend for 16 consecutive years with a 10-year dividend growth rate of 9%. Currently, the dividend stock offers an attractive yield of nearly 4.7%.
Its 10-year total returns are about 12%, which aligns with market returns, albeit with lower volatility. According to Yahoo Finance, its five-year monthly beta is 0.68.
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