Telstra Ltd
(ASX:TLS) has affirmed that it intends to maintain its annual dividend of 28 cents, following encouraging signs in sales growth.
CEO David Thody has reassured investors that based on current performance the telco could comfortably continue to pay shareholders the same dividend.
Australia’s largest telecommunications company has also implemented a company-wide initiative called Project New.
The project involves staff members implementing programs to reduce spending on third parties.
Telstra says its long-term strategy is to take advantage of changes in technology, a growing sales and marketing-led culture and to simplify company systems to lower costs, affirming that the strategy must be implemented irrespective of the National Broadband Network.
Looking ahead Telstra says it will be targeting opportunities in Australia and Asia.
Telstra’s profit fell from $4.08 million last year to $3.94 million in fiscal 2010.
