0029 GMT - Betting on telecoms company Telstra (TLS.AU) maintaining its dividend? You shouldn't. That's the message from Credit Suisse, which cuts its dividend forecast to A$0.25/share from FY18. Telstra can't support the current payout given it is taking a A$2 billion-A$3 billion Ebitda hit from fixed-line customers moving to the government-owned National Broadband Network, Credit Suisse says. It expects Telstra to confirm a dividend reduction at its FY17 result in August. "We assume A$1.8 billion of share buybacks across FY18/19 to maintain the overall dollar value of returns to shareholders in those years and help ease the transition to the lower dividend," Credit Suisse says. Its price target drops 13% to A$4.00/share, while its underperform call is unchanged. TLS last traded at A$4.35. ([email protected]; @dwinningWSJ)
(END) Dow Jones Newswires
you decide to believe it or not
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Last
$3.89 |
Change
0.040(1.04%) |
Mkt cap ! $44.94B | |||
| Open | High | Low | Value | Volume |
| $3.86 | $3.90 | $3.85 | $66.87M | 17.23M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 311462 | $3.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.89 | 133931 | 11 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| TLS (ASX) Chart |