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 lots, 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 perfect TSX shares to purchase earlier than the subsequent leg of the market restoration will get underway.
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New dividend coverage
TELUS has but to totally recuperate from its 2024 stoop. 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 lower. On December 3, 2025, Canada’s second-largest telecommunications firm introduced a pause to its dividend-growth program, not a dividend lower.
The $26.4 billion will likewise step down its 2% Discounted Dividend-Reinvestment Plan (DDRIP) till the low cost reaches zero in 2028. Internet debt discount can also be a part of the plan. The total-year 2025 monetary outcomes confirmed a 1% and 12% year-over-year improve in working income and web revenue, 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 robust enterprise fundamentals and vital free money move technology.”
Entwistle expressed confidence that the robust monetary momentum will allow TELUS to ship FCF development of a minimum of 10% compounded annual development fee by way of 2028. The telco diminished its leverage ratio to three.4 instances in 2025 and goals to scale back it additional to a few instances by 2027.
Many consider {that a} dividend lower will observe the pause in semi-annual dividend will increase. It may very well be a looming actuality that considerably reduces capital prices and offers monetary flexibility. Nonetheless, administration will keep its present quarterly dividend whereas it really works to strengthen the steadiness sheet. Dividend development will resume as soon as it meets leverage targets.
TSX30 winner
Propel Holdings, an $854.2 million monetary know-how firm, extends credit score to underserved prospects by way of its AI-powered on-line lending platform. The monetary inventory positioned sixth within the 2025 TSX30 Checklist, 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. Nevertheless, 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 revenue elevated 31% and 28%, respectively, to US$589.8 million and US$59.5 million.
Nevertheless, in This fall 2025, web revenue 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 brought about the value 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 robust rebound. As soon as the market stabilizes, potential traders could have a twin path to profitability: worth appreciation and dividends.
