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Telstra Boosts Dividend and Announces $750 Million Share Buy-back
Telstra Boosts Dividend and Announces $750 Million Share Buy-back
Telstra, Australia's leading telecommunications giant, has unveiled a significant financial move with an increase in its dividend and plans for a substantial share buy-back initiative.
Following a notable 7.1% rise in first-half profit, the company aims to allocate up to $750 million for repurchasing shares.
During the first half of the fiscal year, Telstra reported a net profit of $1.1 billion, largely credited to the robust growth in its mobile segment, which saw an influx of 119,000 new customers. Overall revenue increased by 1.5% to $11.6 billion, with earnings before interest, tax, depreciation, and amortisation (EBITDA) up by 6% to $4.2 billion.
Telstra's CEO, Vicki Brady, highlighted the company's continued momentum, citing disciplined capital management and cost control as key factors driving this streak of success. She emphasised that these latest results mark the fourth consecutive year of underlying growth in the first half.
A 9.5 cent per share fully franked interim dividend was declared, marking a 5.6% increase from the previous year. The share buy-back is scheduled to commence on March 12. Additionally, Telstra has committed to investing $800 million over the next four years to enhance its mobile network, in collaboration with Ericsson, focusing on advanced self-management capabilities.
This strategic financial decision by Telstra could potentially benefit shareholders through enhanced dividend returns and a buy-back plan that often supports share prices by reducing supply. For the telecommunications sector and the broader Australian financial market, such moves underscore confidence in sustained growth and investment in next-generation technologies.
As Telstra embarks on its ambitious network upgrade, industry observers and analysts will closely monitor how these improvements translate into enhanced service reliability and customer satisfaction. The pledge to invest heavily in cutting-edge mobile infrastructure reflects a forward-looking approach, likely ensuring competitiveness in a rapidly evolving telecom landscape. Stakeholders will be keen to watch the effect of these commitments on Telstra's market position and financial performance over time.
Published:Thursday, 20th Feb 2025
Source: Paige Estritori
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Price-to-Earnings Ratio (P/E):
A valuation ratio of a company's current share price compared to its per-share earnings.
A valuation ratio of a company's current share price compared to its per-share earnings.