Where to now for long term investors of Telstra, page-9552

Again,holders don't seem to take into account guidance.
FY21 guidance $6.5b lowest,i'm going to use the low figure because penn achieved the low figure of $7.4b for fy20.
So thats give or take $1b less in ebitda for FY21.
Then we have FCF also decreasing by memory minimum $2.8b.But thats not a real figure thanks to the pathetic accounting stds,you must deduct tls's interest bill off that,I haven't checked tls's interest bill but it will b $1b plus so that can b deducted from reported FCF guidance.plus there is another deduction.
So again do some maths,the insto's will b.And tell me how close penn is to paying out every cent in div including FCF if he continues 8 cent div in FY21.
Once upon a time tls never touched FCF,and analysts still complained tls paid out 100% of eps,now penns going for 100% of FCF..
Its no good going whoo hoo 5g,the guidance is what counts.Just like FY20 guidance.
Geez penn seems to get away with a lot.
ps i haven't ,i wont watch webcaste presentation.
ps havn't checked debt,total costs,interest bill,nbn lease receipts etc etc .
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