TELUS Corporation reported a net loss of C$1.83 billion for the second quarter of 2026. This result marks a significant decline from the C$245 million loss recorded in the same period last year. A C$2.1 billion pre-tax impairment charge against the TELUS Digital unit primarily drove the quarterly loss.
The company reduced its quarterly dividend by 55%. The new quarterly payment is C$0.1875 per share. This replaces the previous annualized dividend amount of C$1.6736. TELUS expects the move to generate C$2.7 billion in cumulative cash savings. The company will accumulate these savings through 2028. Management will direct the capital toward reducing company debt.
The corporation also introduced three new near-term strategic priorities. TELUS revised its full-year financial guidance to reflect the strategic shift.