Had a look at Penn's statement on 20 June regarding dividend for...

Had a look at Penn's statement on 20 June regarding dividend for 2019, he stated that the 2019 dividend will be announced in 2019, most commentators have missed this including me. It could well be that there wil be no announcement regarding the 2019 dividend this August reporting season. Telstra has made a rod for its own back by announcing dividends a year in advance. The only other company that does this is TCL, the toll road operator.
It could be that Penn makes no dividend announcement this August, just saying the dividend payment for 2019 will be announced in February 2019. That in future dividend payments will be announced after the financial half year has passed. If Telstra does this the commentators will scream that this is creating uncertainty, but would put Telstra in line with most other ASX companies and give Penn a clear 6 months to see how his cost reduction program is going, the cost of the 5G license auction in October, the state of 5G roll out, just how intense the competition is and if the mobile war has abated as I think they will enviable will. Also announcing the dividend then after the financial half year will allow Telstra to make a dividend payment that fits with it current capital needs rather than trying to judge 12 months in advance. I still believe Telstra will still pay a 22 cent dividend for 2019. An announcement in August would not be good for the share price, so there may be a lot of volatility after August but I do not think it will re-test it's $2.60 low.

Good Luck