boosts profit, flags dividend cut - 17th August 2017
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giant Telstra Corporation has lifted its full-year
profit by one per cent in a tough market and has flagged
a cut to its dividend from next year to fund spending
on battling new competitors.
profit from continuing operations was up by 1.1 per
cent to $3.9 billion for 2016/17.
company said it expects to pay a total dividend of
22 cents a share, fully franked, for 2017/18 - down
from 31 cents in the year just ended - after reassessing
its dividend policy.
move takes Telstra away from its historical practice
of paying almost all profits in dividends, to paying
70 to 90 per cent - a ratio it says is "more
in line with global peers and local large companies".