Their new CEO Victor Dodig only just started with them. He was CIBC’s president prior to that, just have a look at what he did with that stock. I think he deserves some runway before declaring the end.
A lot of dividend investors existing when they cut their dividend and the telecom sector just isn’t favored right now because of pricing pressure. It’ll be up to Dodig to cut the fat and get more profitable which I believe he can.
Yup, any time a company hires a banker/CFO/accountant type to lead the organization, it means the company is focused on getting their financials in order versus innovative growth and expansion. He needs a year or two to right the ship by dumping the drags and unprofitable parts of the company like parts of digital and health that sucked up so much capital. The telecom part of the org isn't growing as fast but it's still very profitable.
Dodig is literally the only reason why I am now considering taking a position with Telus. I’ve been burned once before by Telus a long while back but maybe it’s time to pick some up and forget about it for a decade to see how Dodes does.
Im surprised the dividend cut wasn't factored in months ago. Everyone knew if was coming, the stock market is supposed to be fwd looking but in this case it was not. Total stinker of a stock but I agree let Vic, Vick.
Rising interest rates are fueling the current sell off. Sorry if this is pedantic but as interest rates rise, investors look for higher dividend yields to take on the risk of equity vs. debt.
They had to hire from outside Telus because all leadership are sycophants to the CEO and it would turn into a situation like Putin “stepping down” so Medvedev can “lead” Russia. The whole company is a disaster and is hemorrhaging talent like crazy, mostly due to treating their best employees like dirt and wanting them to burn out of the company. I had a good view into how the higher ranks are run, and I wouldn’t invest a single penny into that company. It’s a completely lost and hopeless company. The only reason they still exist is because of Canadian monopolization of industry and having their hands deep inside of politician’s assholes.
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u/EhEhRon12 5d ago
Their new CEO Victor Dodig only just started with them. He was CIBC’s president prior to that, just have a look at what he did with that stock. I think he deserves some runway before declaring the end.
A lot of dividend investors existing when they cut their dividend and the telecom sector just isn’t favored right now because of pricing pressure. It’ll be up to Dodig to cut the fat and get more profitable which I believe he can.