re: Ann: Telstra's Half Year Results Anno... IMO, profits will fall further, dividend will have to decrease.
There is no realistic area for growth as once the fixed line revenue goes, the only growth could come from other segments which are in competition with others, often better businesses.
At 12% dividend, all you need is a 7% drop in SP to make your "Telstra term deposit" not worthwhile compared to a bank rate.
NBN is an additional unknown which is more likely to be positive than negative for SP.
On the balance, I do not hold.
Ann: Telstra's Half Year Results Announcement, page-18
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