The Globe and Mail reports in its Tuesday, Nov. 25, edition that Telus has a dividend policy that has gone from being a benefit to a burden on the company. The Globe's Andrew Willis writes that for 14 years, Telus has increased its shareholder payouts twice a year, in May and November, making it a favorite for income-seeking investors and giving it a premium valuation compared with peers like BCE and Rogers. Earlier this year, Telus promised to increase its dividend by 3 to 8 per cent annually through 2028, but included caveats to allow flexibility in its dividend growth strategy. Analysts and the market say the streak needs to end. This board, chock-a-block with retired bankers, is going to listen. On Monday, Telus shares sported a 9.1-per-cent dividend yield. Yields this high are a flashing red light -- a signal the dividend is out of step with the company's finances. Telus's yield is about twice that of BCE shares. Back in May, BCE bit the bullet by slashing its payout to pay down debt and fund growth. Telus shares yield three times what investors receive at Rogers and Quebecor. Last week, JPMorgan analyst Sebastiano Petti downgraded his recommendation on Telus to "underweight" from "neutral."