Upgrading Montreal's technological framework

The company says its investment this year will help to provide 5G connectivity to the many multiple festivals and events at Parc Jean-Drapeau, including Osheaga. Telus is also continuing its partnership with Zú, a Montreal hub established by Cirque du Soleil founder Guy Laliberté, that aids entrepreneurs via technology.

Among other activities, the company is participating in the first quantum communications testbed in Canada in conjunction with Numana, a technology think tank with the goal of improving the security of computer communications.

Furthermore, together with the charity the Old Brewery Mission, Telus celebrated the first anniversary of the Health for Good mobile clinic. The clinic helps marginalized people in Montreal by providing free health services, social support and housing assistance. Since the mobile clinic first launched in April 2023, over 3,200 consultations have been provided.

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Expanding its sights to building better communities

Telus plans to invest $73 billion in Canada by 2028, including $10 billion in the Quebec economy, for its infrastructure, operations and spectrum licensing, and to improve the coverage, speed and reliability of its networks.

Since 2000, Telus, as well as its retired members in Quebec, have volunteered 1.6 million hours and contributed more than $95 million in cash, in-kind contributions, time and programs to Montreal organizations like the Parrainage civique de Vaudreuil Soulanges, Les Impatients and The Fairy Godmothers.

Telus has over $20 billion in annual revenue.

Why investors should pay attention to the Telus investment

The telecom industry is a major contributor to Canada's economy, according to a PricewaterhouseCoopers (PwC) report that was commissioned by the Canadian Telecommunications Association. According to the PwC report, Canada's telecom industry adds nearly $81 billion directly to the nation's gross domestic product (GDP) — the total market value of all the finished goods and services produced within a country’s borders in a specific time period. As a result, Canada's telecom industry — and this includes Telus — supported almost 782,000 jobs across various industries in 2023.

For investors, this makes the telecom industry one of the key Canadian industries that drives economic growth — and portfolio growth. It also means that any investment by a firm in this sector is really a push towards future growth — and the potential for future profit. As a key sector, there are more than 40 internet service providers; however the sector is dominated by four big companies:

  • Bell (TSX:BCE)
  • Rogers (TSX:RCI-B)
  • Telus (TSX:T)
  • Shaw (TSX:SJR-B)

To add (or rebalance) your exposure to the Canadian telecommunications industry, you'll need to buy or sell shares of one of the top four Canadian telecom firms. This requires a direct investing account. Good options include:

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Nicholas Sokic Contributor

Nicholas completed his master's in journalism and communications at Western University. Since then, he's worked as a reporter at the Financial Post, Healthing.ca, Sustainable Biz Canada and more. Aside from reporting, he also has experience in web production, social media management, photography and video production. His work can also be found in the Toronto Star, Yahoo Finance Canada, Electric Autonomy Canada and Exclaim among others.

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