Sacred Cow No More as Telstra Cuts Dividend; FVE Eased to AUD 4.60 on Competition
The outcome of narrow moat-rated Telstra's capital allocation review overshadowed what was an in line fiscal 2017 result. Shock of management's AUD 0.22 DPS guidance next year, down 29% from the AUD 0.31 in fiscal 2017, was clearly too much for investors to stomach, judging by the stock price reaction. Sentiment was not helped by the uncertainties relating to the proposed "quid pro quo" for the dividend cut, with the flagged partial monetisation of AUD 5.0 to 5.5 billion recurring NBN receipts s...Telstra is engaged in providing telecommunications and information services for domestic and international customers. Co.'s operating segments are Telstra Retail, Global Enterprise and Services, Telstra Operations, and Telstra Wholesale. As of June 30 2016, Co. provided retail fixed data services to 3.4 million customers, retail fixed voice services to 5.7 million and domestic retail mobile services to 17.2 million customers.
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