Telus Corp. cuts its dividend by about 55% as it looks to strengthen its balance sheet under newly appointed CEO Victor Dodig. The company says the change shifts cash away from shareholder payouts and toward debt repayment, a move described as broadly expected for Telus’s financial planning going forward. Alongside the dividend reduction, Telus also plans to sell assets. Reports indicate the company intends to unload parts of its business, including portions of its health division, to generate proceeds that can be used to improve leverage. Bloomberg and other outlets frame the strategy as part of Dodig’s early efforts to “make his mark” after taking over leadership, with an emphasis on repairing financial position rather than maintaining previous payout levels. The outlets agree that the combination of a smaller dividend and asset disposals is intended to provide additional flexibility for managing existing obligations and reducing debt. No sources cited here suggest the dividend cut is linked to an immediate operating setback; instead, they present it as a planned response to Telus’s capital and debt needs.