The Globe and Mail reports in its Saturday edition that the Victor Dodig era has begun at Telus. The Globe's David Berman writes that investors can expect folksy charm and calm reassurances that this is a rebound you won't want to miss. Oh, and kiss the current dividend goodbye. Mr. Dodig, former chief executive officer of CIBC, became chief executive officer of the Vancouver telco on July 1, taking over from Darren Entwistle. He has inherited a hot mess of a stock. The share price has fallen 57 per cent over the past four years, as the industry struggles with slowing population growth and intense competition for wireless customers. There is even the emerging threat of new players such as Starlink entering the U.S. wireless sector and denting valuations elsewhere. Equally alarming, the declining share price has driven the dividend yield on Telus shares over 11 per cent, which suggests the market is resigned to a large cut owing in no small part to an alarming debt load. Scotiabank's Maher Yaghi figures that a 50-per-cent dividend "reset" would create the financial flexibility needed to begin repairing the balance sheet and "reset the equity story on a more sustainable footing." Still, Mr. Berman sees hope for the stock.