Ann: Telstra announces on-market share buy-back of up to $1.35b, page-13

Really? I expected improved profits on the basis of restructuring and improved mobile revenue, but the fall in net income was larger than I expected. This little rally of the last few months is all on the back of the buyback. I don't think its prudent with single digit EBITDA growth, falling profits. It was a bonus for the stock to get up here for me. Only a small position though on a cash cow company that was sold down a little too far last year.

Why do these companies so often issue (sell) shares on the lows and buy on the highs - poor management that then rewards itself with Option/Share awards on receovery and uses retained earnings to pump up their own bonuses. No thanks.