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Investors looking for a defensive investment that can provide both long-term growth and income producing capabilities should consider Telus Corp. (USA) (NYSE:TU)

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Investors are often reminded of the immense opportunity that awaits from investing in one of Canada’s major telecoms. Often, that opportunity that is represented by either of the two more popular telecoms, BCE or Rogers Communications, both of which have their own valid cases for investors to consider.

Telus (TSX:T)(NYSE:TU) is the third name that completes the trio and Big Telecoms in the Canadian market, and despite often being overlooked by many investors in lieu of one of the other Big Telecoms, Telus offers several compelling advantages that make the company a worthy option to consider.

How does Telus differ from other telecoms?

First and foremost, Telus is a pure-play telecom. That lack of a media segment can be seen as advantageous in several ways, most notably from the razor-like focus that the company is able to exert on improving coverage and expanding its service. That focus was a key factor in Telus’ steady growth in recent years, culminating in the company becoming the second-largest wireless provider in the nation, with nearly nine million wireless subscribers and another four million subscribers across the wireline, internet and TV segments of the business.

While the long-term opportunities from having a strong and growing wireless segment are obvious, there’s another unique aspect of Telus that few investors consider – the company’s growing health segment.

Telus Health was established several years ago and has so far seen investments made in excess of $2 billion. The segment provides a host of digital solutions to both patients and medical personnel in order to streamline and improve a multitude of different areas from billing, information sharing to establishing a Health Electronic Medical Record.

Strong results, strong growth

Telus recently announced results for the fourth fiscal, which came in just over and above what analysts were forecasting. Specifically, the reported revenue of $3.764 billion, reflecting a 6.3% improvement over the same period last year, while adjusted EBITDA witnessed an equally impressive 4.3% gain over the same quarter last year.

Telus saw strong growth across all segments of the company in the quarter, with 112,000 new subscribers being added to the wireless segment and 52,000 new subscribers added across the company’s internet and TV segment, resulting in the best quarterly result in five years.

Overall adjusted net income for the quarter came in at $409 million, which was 3.3% higher than the figure reported in the same quarter last year.

Telus dividend is worthy of mention too

Perhaps one of the most compelling reasons to consider Telus comes in the form of the company’s dividend. The current quarterly payout amounts to a respectable 4.58% yield, and the company has impressively hiked that dividend on an annual or better basis stemming back over a decade, averaging between 7% to 10% in annual growth.

That’s a mind-boggling amount of growth that can more than double your investment in a decade or less, assuming that the current level of growth is sustainable, which pundits agree that it is. As well, Telus maintains a respectable dividend payout ratio that falls between 65% to 75% of net earnings. Telus’ last dividend hike to $0.5450 per share was reflected in the distribution paid out earlier this year.

Telus is an ideal investment for long-term investors seeking a defensive investment that can offer a handsome income as well as growth prospects. In short, if Telus isn’t already in your portfolio and you are looking to diversify, Telus could be the perfect buy-and-forget addition for long-term riches.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned.

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