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TELUS (TU) Plans to Connect More Canadians With Technology

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TELUS Corporation (TU - Free Report) continues to expand its portfolio of Connecting for Good programs to bridge the digital and health gaps in Canada. These initiatives include Mobility for Good, Internet for Good and Health for Good programs to support Canadians in need.

TELUS’ leading-edge technology ensures equal access for everyone, making a real impact across the country. Currently, almost 3 million Canadians take advantage of the various Connecting for Good programs every year.

In another development, the University of Alberta announced a five-year partnership with TELUS to set up a 5G ‘Living Lab’. TELUS’ C$15 million investment will enable the latest 5G infrastructure to accelerate research and drive technology roadmaps.

Meanwhile, TELUS and the governments of Quebec and Canada are committed to bridging the digital divide. Thousands of households and businesses will have access to TELUS’ PureFibre network in 2021 and 2022.

The governments’ C$26 million funding will ensure that 5,000 households are connected to high-speed Internet. TELUS’ investment will serve 20,000 additional homes for a total of 25,000 premises in Eastern Quebec by the end of 2022.

Over the past two decades, TELUS has invested almost C$30 billion in Quebec’s economy. This includes investments in infrastructure, spectrum licenses and operations to improve its network performance.

TELUS expects balanced growth in its wireless and wireline businesses, driven by investments in high-speed broadband technology. In 2021, the company aims to continue generating positive financial outcomes and strong customer growth.

TELUS’ shares have gained 38.9% in the past year compared with 22.1% growth of the industry.

The stock currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader sector are Aviat Networks (AVNW - Free Report) , Plantronics (PLT - Free Report) and Ubiquiti (UI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Aviat Networks delivered a trailing four-quarter earnings surprise of 61.7%, on average.

Plantronics delivered a trailing four-quarter earnings surprise of 560.4%, on average.

Ubiquiti delivered a trailing four-quarter earnings surprise of 37.1%, on average.

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