Telus Corporation: Is This Generous Dividend Safe In 2026?

Telus faces dividend sustainability concerns amid a 9%+ yield and a payout ratio exceeding 100% of free cash flow. Aggressive competition and falling wireless prices have pressured T's cash flow, but asset sales and debt reduction could stabilize finances. T projects >10% annual free cash flow growth through 2028, with a payout ratio potentially dropping below 100% by 2027 if targets are met.