Telstra (TLS.ASX) released its FY16 result with total income up 2.3% to $26.5bn and EBITDA down 3.9% to $10b, final dividend of $0.155 taking the full year dividend to $0.31 FY17 outlook is for 5% income growth and 3 – 5% EBITDA growth. Capital management of $1.5bn in the form of a share buyback will be welcomed by investors.
We have been buyers of Telstra since the $5.20 low in June and again on this pullback it’s worth looking for an entry point.
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