# Telus financial restructuring and dividend reduction

> Live situation record from CLSTR: https://clstr.news/situations/telus-financial-restructuring-and-dividend-reduction
> Updated: 2026-08-10T11:57:23.000Z. Sources: 2. Developments: 2.

Telus Corp. announced significant financial restructuring following its second-quarter 2026 earnings report. Under the leadership of new CEO Victor Dodig, the company reported a quarterly loss and implemented a dividend cut of approximately 55% to 18.75 cents per share.

The company aims to save roughly $2.7 billion through 2028 to support debt reduction and deleveraging efforts. Specifically, management is targeting a reduction in the Net-Debt to Adjusted EBITDA ratio from 3.5 to 3.0 by the end of 2028. 

Financial reporting also included a $2.1 billion goodwill impairment charge related to the TELUS Digital segment. While mobile network revenue saw a 1% increase and cash flow from operations rose 15% to $1.3 billion, the company lowered its 2026 service-revenue outlook to flat-to-negative 2% and projected a 2% to 4% decline in adjusted EBITDA. Following these announcements, Telus shares experienced a significant decline.

## Timeline

### 2026-08-10: TELUS cuts dividend by 55% following Q2 earnings report

TELUS has cut its dividend by 55.2% to prioritize deleveraging and growth investments, leading to an 11.6% drop in stock price following its Q2 2026 earnings report.

2 sources. https://clstr.news/cluster/telus-cuts-dividend-by-55-following-q2-earnings-report

### 2026-07-31: Telus cuts dividend 55% and posts Q2 loss as new CEO Victor Dodig takes charge

Telus reports a $1.8 billion Q2 loss, slashes its dividend by 55% to 18.75 cents, ends its reinvestment plan and revises guidance under new CEO Victor Dodig, sending shares down about 12%.

3 sources. https://clstr.news/cluster/telus-cuts-dividend-55-and-posts-q2-loss-as-new-ceo-victor-dodig-takes-charge

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Cite as: Telus financial restructuring and dividend reduction. CLSTR, https://clstr.news/situations/telus-financial-restructuring-and-dividend-reduction