TELUS Corporation (NYSE:TU), a telecom company with a $45 billion market cap, has seen its stock price head rather north in recent months. The stock ended 2021 with a positive return of 18% and so far in 2022, it is up about 11% percent more. The dividend is currently around 4%. TELUS is an excellent defensive play for investors looking to earn a solid and secure dividend while earning a few points a year in the stock price. The telecom company has invested vertically in the value chain with investments in agriculture, health, and technology that will pay off over time.

Creation of a New Reporting Structure

In 2021, TELUS launched a new reporting structure with two segments, TELUS Technology Solutions, called TTech, and its Digital Customer Experience segment called TELUS International. The latter includes customer experience and digital transformation services, including artificial intelligence and content management. The former, which forms the bulk of the business, includes revenue from its network and equipment sales from mobile technology, data revenues from items such as Internet protocol, television, hosting and IT services, software, and data management and analytics services, and software health care through TELUS Health.

TELUS Has Strong Business Growth

In Q4 2021, TTech saw operating revenue increase by $231 million or 6.4% year over year, other mobile products and services increase by 5%, landline products and services increase by 12%, and TELUS Health increase by 18%. TELUS International increased fourth-quarter revenue by 36%. Consolidated revenues increased by 20%.

CEO and President Darren Entwistle said: “Our performance in the fourth quarter, and for the full year, was characterized by our hallmark combination of robust, high-quality and profitable customer growth, alongside strong financial results. Our results are buttressed by our highly differentiated and potent asset mix geared towards high-growth, technology-oriented verticals.”

In January, the telecom company launched its Virtual Pharmacy service, which allows users to book appointments for video or phone consultations at the pharmacy with a licensed pharmacist through the company’s mobile app.

On March 29, TELUS Health acquired Sprout Wellness Solutions, a Toronto health technology startup offering an online platform that aims to make wellness education more accessible. The objective of this acquisition is to improve virtual care offering to organizations and their employees.