REG - Telstra Corp. Ld - Telstra announces capital management program <Origin Href="QuoteRef">TLS.AX</Origin>

TelstraAnnouncement

03/05/2016 07:06

RNS Number : 9277W
Telstra Corporation Ld
02 May 2016
2 May 2016
The Manager
RNS
Telstra Corporation Limited
Office of the Company Secretary
Level 41
242 Exhibition Street
MELBOURNE VIC 3000
AUSTRALIA
General Enquiries 61 8 8308 1721
Facsimile 61 3 9632 3215
Email:
companysecretary@team.telstra.com
ELECTRONIC LODGEMENT
Dear Sir or Madam
Telstra announces a capital management program of at least $1.5 billion
In accordance with the Listing Rules, I attach a market release for release to the market.
Yours faithfully
Carmel Mulhern
Group General Counsel




MARKET RELEASE
Telstra announces a capital management program of at least $1.5 billion
2 May 2016 -Telstra today announced a capital management program of at least $1.5 billion to commence in the first half of the 2017 financial year. 
The capital management program will be in addition to the ordinary dividend, with specific details to be made available at Telstra's full year results presentation on 11 August 2016. 
Telstra is currently examining various ways to return capital to shareholders with the exact nature, amount and timing dependent upon market conditions and all necessary regulatory approvals. 
It is intended that the proceeds from the recently announced sale of Autohome shares will be used to fund the capital management program. 
CEO Andrew Penn said that this was another example of Telstra's balanced approach towards capital management.
"I am pleased that we are able to confirm such a significant capital management program as the result of active management of our investment portfolio. Given our recent announcement of the sale of Autohome shares, we believed it was important to provide the market with further information about how we intend to use those funds," Mr Penn said. 
"While specific details of the nature of the capital management program are yet to be confirmed, creating this type of shareholder value is in accordance with our capital management framework.
"Importantly, we also maintain sufficient capacity to invest in our growth plans for the future."
Investor Day Presentation material is available at https://www.telstra.com.au/aboutus/investors/financial-information/investor-presentations
ENDS 
Media contact: Nicole McKechnie, +61 (0) 429004617
Email: media@team.telstra.com
www.telstra.com.au/abouttelstra/media-centre/
Investor contact: Peter Kopanidis, +61 (0) 412171673
Email:investor.relations@team.telstra.com
Ref number: 56/2016

This information is provided by RNS
The company news service from the London Stock Exchange
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