12:13 PM EDT, 07/31/2026 (MT Newswires) -- (Adds share reaction in the final paragraph.)

Telus ( TU ) said Friday its second-quarter adjusted earnings fell 27% to C$0.16 per share, from C$0.22 per share. The company also slashed its dividend by 55%.

Analysts polled by FactSet had expected earnings of C$0.20 per share.

The telecom company said operating revenue for the quarter ended June 30 fell 3% to C$4.93 billion, also missing analysts expectation of C$5.05 billion.

Telus ( TU ) declared a quarterly dividend of C$0.1875 per share, which it described as a "reset" of 55% to an annualized C$0.75 per share, from the previous C$1.6736 per share. The cut is expected to generate C$2.7 billion in cumulative cash savings through 2028, which will be used to pay down debt. The dividend reinvestment plan (DRIP) discount will be terminated from Oct. 1, a statement said.

Telus ( TU ) is in talks with interested parties regarding its Telus Health-related non-core assets. It is also seeking to sell its non-core real estate assets.

The company's shares were last seen down C$1.73, or 11%, to C$13.35 on the Toronto Stock Exchange.

Price: 13.40, Change: -1.69, Percent Change: -11.17