Written by Puja Tayal at The Motley Fool Canada
Telcos have been the talk in the investor community since these dividend stocks are trading near their lows. Among the three telcos, Telus (TSX:T) stock fell 34% from its April 2022 peak and is now trading close to its pandemic low at around $22.5. And it is not just Telus. BCE stock also fell 36% and is trading near $46.5, below its pandemic low.
Telus has built its reputation among dividend seekers by growing its dividend annually at a compounded annual growth rate (CAGR) of 40% in the last 19 years. Over the years, the growth rate has slowed. The management aims to increase its dividends by 7-10% every year till 2025. After that, they will determine the course for the next three years.
What happened in these two years that the stock of this telecom giant fell more than 34%?
Why is this magnificent TSX dividend stock down?
The decline began in April 2022,…
