By Stuart Condie
SYDNEY--Telstra Corp. Ltd. increased its full-year dividend for the first time in seven years after lifting annual earnings by 8.4% and confirming expectations of another rise in the 2023 fiscal year.
Australia's largest communications provider on Thursday reported underlying earnings before interest, tax, depreciation and amortization for the 12 months through June of 7.3 billion Australian dollars (US$5.17 billion), compared with A$6.7 billion a year ago.
Telstra had guided for underlying Ebitda of between A$7.0 billion and A$7.3 billion, while the average analyst forecast was A$7.27 billion, according to data compiled by FactSet. Telstra said the increase was driven by improved mobile and international earnings.
The board raised its final dividend to 8.5 Australian cents per share from 8.0 Australian cents a year ago, for a full-year payout of 16 Australian cents.
Statutory net profit fell by 9.1% to A$1.69 billion.
Telstra expects underlying Ebitda of between A$7.8 billion and A$8.0 billion in fiscal 2023.
Write to Stuart Condie at email@example.com
(END) Dow Jones Newswires