Morgans 18.07.2017
Column 1 0 Call to action – Telstra
Dividend aside, TLS’s FY17 result and outlook were in line with our expectations. We had earlier flagged the risk of a dividend cut on the revised capital management framework but were not expecting the Board to cut the dividend to 22cps in FY18 as they have now done, albeit softened with a possible buyback. The revised dividend looks to us like an almost worst case scenario, with upside potential should the competitive landscape not deteriorate and/or should the NBN unravel. The lower dividend is disappointing but positions TLS better to navigate the future and importantly expectations are rebased so the uncertainty is removed. We upgrade TLS to an Buy/Add recommendation following the rebasing event.
Morgans 18.07.2017 Call to action – Telstra Dividend aside,...
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Last
$3.58 |
Change
-0.010(0.28%) |
Mkt cap ! $41.36B | |||
| Open | High | Low | Value | Volume |
| $3.58 | $3.61 | $3.57 | $124.7M | 34.80M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 135 | 818233 | $3.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.59 | 105705 | 4 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$3.59 |
Change
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| Open | High | Low | Volume | ||
| $3.58 | $3.61 | $3.57 | 16328887 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
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