BCE & TELUS (TSX:T): 2 Canadian telecom stocks to watch

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BCE & TELUS (TSX:T): 2 Canadian telecom stocks to watch

TSX telecom stocks;
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Highlights 

  • These two stocks have outperformed the TSX Composite Index on a YTD basis
  • Both BCE Inc. and TELUS pay dividends to their stockholders and their market caps are high
  • TELUS announced it had the best-ever fourth quarter in Q4 2021 in terms of growth of customers

Telecommunication touches many aspects, be it consuming content uploaded on streaming apps like Spotify and YouTube or getting connected with our friends and family.

Companies that deal in this sector and their stocks make for a close watch as the world braces for Web 3.0 and other new offerings. The TSX Composite Index may not have delivered big returns so far in 2022, but as the market absorbs likely transitory shocks like interest rate hikes by central banks and the conflict in Eastern Europe, who knows if the TSX can post yet another winning year in 2022.

In this light, let’s take a closer look at two leading telecom stocks trading on the TSX.

BCE Inc. (TSX:BCE)

The company is into landline, broadband and other related services, with millions of customers. BCE is also into digital media, besides holding rights for channels like HBO.

In February, BCE Inc. reported its financial numbers for the year 2021. The major highlight was that in 2021, BCE was able to reach 99 per cent of pre-COVID 2019 levels in terms of revenue. The company also reported that it expanded 5G network services to Prince Edward Island in the fourth quarter.

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BCE Inc. has a market cap of nearly C$62 billion, and it is a dividend-paying TSX stock. The stock had closed at a price of C$68.06 on March 16, which meant a nearly 3.4 per cent appreciation on a year-to-date (YTD) basis.

TELUS Corporation (TSX:T)

Another leading telecom operator in Canada, TELUS also has millions of subscribers, and the company has interests in health and agricultural industries as well.

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In its financial results, TELUS announced it had the best-ever fourth quarter in Q4 2021 in terms of growth of customers. The full year 2021 consolidated operating revenue of the company was up by 9.8 per cent. Consolidated net income in 2021 also grew by 35 per cent, TELUS reported.

TELUS Corporation has a market cap of nearly C$44.7 billion, and it is also one of the dividend-paying TSX stocks. The stock had closed at a price of C$32.66 on March 16, which meant a nearly 9.6 per cent appreciation on a YTD basis.

 YTD return of BCE & Telus

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Bottom line

BCE Inc. and TELUS Corporation are two of the leading telecom entities in Canada, and both the stocks are dividend paying. The latest financial reports and the fact that the YTD growth of both the stocks is better than the TSX Composite Index make them an interesting watch.

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