Continuing with its practice of raising its dividend payment every year, Canadian telecom Telus (NYSE: TU ) announced today its second-quarter dividend of $0.34 Canadian per share. Last quarter the payout was $0.32 Canadian per share. That's a 6.25% increase.
In May 2011, Telus announced plans to continue with two dividend increases per year to 2013 and expected the increases to be in the range of 10% annually. The board of directors said the new quarterly dividend is payable on July 2 to the holders of record at the close of business on June 10.
Telus has paid a dividend every quarter since 1999 and has regularly increased the payout since 2004. The regular dividend payment equates to a $1.36-per-share annual dividend yielding 3.7% based on the closing price of Telus's stock on May 8.