The TSX continues to show highly effective resilience amid heightened volatility. As of mid-April 2026, the index has climbed 7.7% year-to-date, with eight of 11 main sectors now in optimistic territory. Shopping for alternatives are a lot, too, as many underperforming however high-quality shares have clear paths to rise.
TELUS (TSX:T) and Propel Holdings (TSX:PRL) belong within the underperforming bunch, however each stand out as the most effective TSX shares to purchase earlier than the following leg of the market restoration will get underway.
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New dividend coverage
TELUS has but to totally get well from its 2024 droop. At $16.90 per share, the year-to-date loss is 4.4% following a virtually 9% slide within the final three months. The 9.97% dividend yield offsets the weak point, although some traders worry a dividend reduce. On December 3, 2025, Canada’s second-largest telecommunications firm introduced a pause to its dividend-growth program, not a dividend reduce.
The $26.4 billion will likewise step down its 2% Discounted Dividend-Reinvestment Plan (DDRIP) till the low cost reaches zero in 2028. Web debt discount can also be a part of the plan. The total-year 2025 monetary outcomes confirmed a 1% and 12% year-over-year enhance in working income and web earnings, respectively.
Notably, free money move (FCF) rose 11% to $2.2 billion in comparison with 2024. Its president and CEO, Darren Entwistle, mentioned, “TELUS is advancing its capital allocation technique, supported by sturdy enterprise fundamentals and vital free money move era.”
Entwistle expressed confidence that the sturdy monetary momentum will allow TELUS to ship FCF development of not less than 10% compounded annual development charge by means of 2028. The telco decreased its leverage ratio to three.4 occasions in 2025 and goals to cut back it additional to a few occasions by 2027.
Many imagine {that a} dividend reduce will comply with the pause in semi-annual dividend will increase. It might be a looming actuality that considerably reduces capital prices and supplies monetary flexibility. Nonetheless, administration will keep its present quarterly dividend whereas it really works to strengthen the stability sheet. Dividend development will resume as soon as it meets leverage targets.
TSX30 winner
Propel Holdings, an $854.2 million monetary expertise firm, extends credit score to underserved clients by means of its AI-powered on-line lending platform. The monetary inventory positioned sixth within the 2025 TSX30 Listing, the flagship program for TSX’s 30 top-performing shares. The rating relies on the dividend-adjusted share worth efficiency over a three-year interval. It was +560% for PRL.
The present share worth of $21.84 represents an 11.5% year-to-date loss. Nonetheless, if you happen to make investments in the present day, you’ll be able to feast on the three.71% dividend (38% payout ratio). In 2025, income and web earnings elevated 31% and 28%, respectively, to US$589.8 million and US$59.5 million.
Nonetheless, in This fall 2025, web earnings fell 49% to US$5.9 million versus This fall 2024, whereas provision for credit score losses (PCLs) rose to 56% of revenues from 48% a yr in the past. Each elements prompted the worth decline.
The expansion prospect stems from the official launch of FreshLine, an unsecured private line-of-credit product, in March 2026. As well as, funding companions have dedicated as much as US$150 million to fund a nationwide U.S. rollout. Propel Holdings initiatives $1.1 billion in income and $163.9 million in earnings by 2028.
Earn in two methods
Safe your positions in TELUS and Propel Holdings now earlier than the sturdy rebound. As soon as the market stabilizes, potential traders may have a twin path to profitability: worth appreciation and dividends.
