Executive team and board buy stock and accelerate repurchases to signal conviction in growth goals and capital discipline
TELUS’ top executives and members of its board have upped their personal stakes in the company, buying a total of 357,090 TELUS shares in the open market during November and December, in a move that the company says cements their confidence in the teleco’s long-term fundamentals.
Included in these purchases was Darren Entwistle, president and CEO, who has continued his practice of taking his entire salary in TELUS shares, a strategy he adopted in 2024 and previously employed from 2010 to 2015.
Collectively, the executive leadership team and the board now hold about 2.4 million common shares as of December 31, 2025, reinforcing alignment with external shareholders and enhancing internal confidence in the company’s trajectory.
Over the last 12 months, TELUS’s stock has generally declined, with price changes ranging from about -9.6% to approximately -17.5% depending on the data source and timeframe measured. Recent pricing data shows the share trading near its lower end of the 52-week range (roughly $17.26–23.29) and below where it started the prior year.
In parallel with the latest share acquisitions, TELUS also reported that it has bought back and cancelled 2,299,753 common shares at an average price of $17.3932 per share, representing roughly an 18% discount to its average trading price over the past year.
Those repurchases form part of the company’s $500 million normal course issuer bid (NCIB), launched in mid-December 2025, allowing the firm to repurchase shares for cancellation over a 12-month period.
TELUS says these transactions reflect its belief that the current valuation does not yet fully capture the strength of its operations and growth prospects.
The company has highlighted its target of meaningful free cash flow growth of at least 10% compounded annually through 2028, backing its deleveraging progress and capital allocation strategy, including a systematic reduction of its discounted dividend reinvestment plan beginning in Q1 2026.
Forward-looking guidance included targets to reduce net debt to adjusted EBITDA to around 3.3 times by the end of 2026 and about 3.0 times by year-end 2027, as the management focuses on strengthening the balance sheet alongside shareholder returns.
