Telstra has delivered a surprise lift to its total dividend for the time in seven years, despite a fall in net profit.
The company will pay a fully franked final dividend of 8.5 cents per share, making it the highest dividend to be paid since 2019.
Telstra CEO Andy Penn said the increase recognises the confidence of the Board following the success of the T22 strategy, the ambition in the T25 strategy of high-teens EPS growth from FY21 ? FY25, the strength of the company?s balance sheet and the recognition by the Board of the importance of the dividend to shareholders.
Telstra?s shares are up almost 1%.