The Canadian government recently stated that any donations made to the Ukraine conflict would be 100% matched, up to $10 million. This has led to an enormous influx of donations by Canadians and corporations alike. But not everyone can afford to take out their savings and start donating.
That’s why today I’m here to help you donate and reach that government goal, but still keep your savings safe. There are always ways to help, and money is really what’s needed most. So here’s how you can use dividends to donate to the Ukraine conflict.
Choose the right TSX stock If you’re looking to donate your dividends to the Ukraine conflict, you want to get the best bang for your buck. Right now, that simply has to be TELUS (TSX:T)(NYSE:TU). TELUS recently made an announcement that it would commit $2 million toward the Ukraine conflict. This will be given to the Canadian Red Cross, Save the Children Canada, and other charities.
Also, this is on top of the already donated $500,000 by TELUS. This came from the company, along with team members, through donation matching and more. The effort is through the TELUS Friendly Future Foundation. And there is even more the company continues to offer.
If you’re calling to Ukraine, long-distance charges are waived for texts and calls. Already in Ukraine? Roaming fees are gone. You can also use TELUS stock rewards to donate as well, along with the text-to-donate program. So the company has really made some great moves to help Ukraine.
Still a great stock What’s more, TELUS stock continues to perform well, trading at 52-week highs as of writing. Shares are up 24% in the last year, trading at a fairly valued 26.60 times earnings as of writing. The company continues to benefit from its expansion program, 5G rollout, and wireline network which it managed to get in before the pandemic.
Then of course comes the dividend. If you’re wanting to donate those dividends to the Ukraine conflict, TELUS stock has a 4.09% yield as of writing. That comes to $1.31 per share per year, coming out on a quarterly basis.
So let’s say you wanted to put $20,000 into TELUS stock today. That would give you about 617 shares as of writing. You could therefore put aside $808.70 in dividends each year, or about $202 per quarter toward the Ukraine conflict. If you want to go even further, you could use your returns as well. If you were to buy 617 shares and see them grow another 23% in the next year, you could have returns of $4,680 in the next year!
Bottom line You don’t have to put your finances at risk to help those in need during this Ukraine conflict. And dividends aren’t the only way you can help. Donations such as diapers, clothing, women’s sanitary products, and baby food are all in desperate need as well. But if you want to put money aside, this is a fast and effective way to help the Canadian government reach its $10 million goal.
The post Ukraine Conflict: 1 TSX Stock to Help Donate Dividends appeared first on The Motley Fool Canada.
Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends TELUS CORPORATION.