Benzinga | Jun 1, 2021 01:36PM EDT

TELUS Invests $25M For Direct Fibre Optic Network Connection In Leduc

* TELUS Corp (NYSE:TU) has invested $25 million to directly connect Leduc's homes and businesses to its fiber-optic network at no cost to taxpayers or residents.

* The initiative builds on TELUS's recently announced plans to invest $14.5 billion in infrastructure and operations across Alberta through 2024.

* TELUS plans to connect the majority of the homes and businesses by next spring.

* TELUS PureFibre's symmetrical upload and download speeds were equipped to withstand the additional pandemic demands.

* TELUS plans to expand the network infrastructure to more communities in the future.

* The company held C$1.9 billion in cash and equivalents as of March 31, 2021.

* Price action: TU shares traded higher by 0.66% at $22.7 on the last check Tuesday.