One huge plus for Telstra is that no Australian government, regardless of which political party is in control, is going to put forth legislation that will jeopardise the profitability of Telstra.
Why do I think that? Because so many super funds and self-funded retirees, and probably half the population of Australia rely on the dividend for income support.
Could you image the burden upon the Australian government if it lost billions of dollars in tax revenue; and also, if it had to start paying more people income support.
ex divi, page-85
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