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TELUS (TU) Reveals First Indigenous Reconciliation Action Plan

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TELUS Corporation (TU - Free Report) recently unveiled its 2021 Reconciliation and Indigenous Connectivity Report. The Canada-based telco has included its first-ever Indigenous reconciliation action plan in the report.

Supported by Indigenous frameworks of reconciliation, the plan focuses on addressing the essential connectivity requirements of the diverse native communities residing across TELUS’ serving areas. TELUS aims to provide local people with crucial connectivity, tools and resources, in turn, strengthening productive relationships.

As part of the Indigenous reconciliation action plan, TELUS has identified four key pillars that are likely to bring about meaningful changes in communities. Those four short-term action plan targets are enabling social outcomes, connectivity, cultural responsiveness & relationships, and economic reconciliation.

The telco giant is committed to launch the $1-million TELUS Indigenous Communities Fund specifically dedicated to provide native people access to education, mental health and well-being, community building and language and cultural revitalization. It aims to deploy broadband connectivity to additional 20 communities by 2023.

That said, TELUS delivered 5G connectivity to 382 Indigenous lands and superior broadband connectivity to 48 Indigenous lands in 2021. TELUS intends to collaborate with Indigenous educators in the short run to offer e-learning material and create learning opportunities by ensuring that essential resources are available to the company’s team members.

Also, it aims to achieve Bronze Progressive Aboriginal Relations status by 2024 by proactively working with Indigenous businesses and communities. Driven by such diligent operational execution, TELUS is committed to support the goals of Indigenous people by not only boosting social and health outcomes, but also developing the digital economy for Canadians, backed by innovative capabilities and opportunities inherent in broadband infrastructure.

Moving ahead, TELUS plans to generate subscriber growth in its key growth segments, including wireless, high-speed Internet and TELUS TV. Higher demand for fast data services is expected to support customer additions. Further, TELUS International and TELUS Health are likely to contribute to its growth, organically and from acquisitions.

The company is focused on its long-standing dividend growth program and expects to strengthen its financial and operational performance. It also remains committed to supporting its $1.5-billion accelerated broadband expansion program through 2022 on the back of an augmented Canadian market footprint.

TELUS currently has a Zacks Rank #3 (Hold). Its shares have gained 19.9% compared with industry’s growth of 4.6% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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