Communication giant, Telstra Corporation
(ASX:TLS) has reduced its underlying fixed costs by $244 million, and says it’s on track to achieving $1.5 billion of productivity savings by FY22.
In its Chairman’s address, Telstra said it was it’s facing unprecedented challenges and changes, not only with the rate of technological change, but with a fourth mobile network to be launched shortly in Australia.
Telstra says the rapid NBN rollout cost the business $3 billion in EBITDA.
But, they were just some of the reasons why Telstra says it’s changing its dividend policy.
As a result, Telstra’s total dividend for FY18 will be 22 cents per share, fully franked.
Shares in Telstra Corporation
(ASX:TLS) are trading 0.99 per cent higher to $3.58.
