Written by Andrew Walker at The Motley Fool Canada
The recent pullback in the TSX is giving dividend investors a chance to buy great Canadian dividend-growth stocks at discounted prices for a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) portfolio.
Telus
Telus (TSX:T) trades near $21.50 per share at the time of writing compared to more than $34 at the peak in 2022.
The stock’s decline is largely due to rising interest rates in Canada over the past two years. The Bank of Canada raised rates to try to get inflation under control. Telus uses debt to fund part of its investments in network upgrades that include expanding the 5G network and running fibre optic lines to customers. Higher borrowing costs put a dent in profits and can cut into cash that is available for distributions to shareholders.
Last year, Telus cut 6,000 positions to adjust to changing market…
