Telstra Increases Final Dividend as Annual Earnings Rise 3.7%

By Stuart Condie

SYDNEY--Telstra increased its dividend as the Australian telecommunications provider reported a 3.7% rise in annual underlying earnings.

Australia's largest telco on Thursday reported underlying earnings before interest, tax, depreciation and amortization for the 12 months through June of 8.24 billion Australian dollars (US$5.56 billion), compared with A$7.95 billion a year ago.

That compared with its A$8.2 billion-A$8.3 billion guidance range and was in line with the average analyst forecast of A$8.24 billion, according to data compiled by FactSet.

The board raised its final dividend to 9.0 Australian cents per share, from 8.5 Australian cents a year ago, for a full-year payout of 18 Australian cents. That was also in line with analysts' expectations.

Statutory net profit fell by 16% to A$1.62 billion. Revenue rose 1.0% to A$22.93 billion.

Telstra expects underlying Ebitda for fiscal 2025 of between A$8.5 billion and A$8.7 billion.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

August 14, 2024 18:25 ET (22:25 GMT)

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