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Highlights:
- Telstra shares buzzed in the green territory and managed to close strong on the ASX today.
- The ASX 200 Telecommunications Services sector also closed 1.16% higher today.
Australia’s largest telecom company, Telstra Corporation Limited (ASX:TLS), ended today’s trading session in the green territory. Telstra shares gained 1.036% and closed at AU$3.900 apiece on the ASX today (13 July).
The company did not share any price-sensitive update on the ASX today.
What is the reason behind Telstra’s share price gain on the ASX?
Telstra marked considerable gains today. The company’s upward share price march could be attributed to the sectoral influence.
The S&P/ASX200 Communication Services sector (INDEXASX:XTJ) closed 1.16% up at 1,392.30 on the ASX today.
The company is also on investors’ radar because in a previous announcement, Telstra announced that it might distribute a dividend worth 16 Australian cents to its eligible shareholders from its earnings in FY22.
Image source: © Qing02051981 | Megapixl.com
Telstra has always been consistent when it comes to dividend payments to its shareholders. This time too, investors are expecting good returns from the company. However, the company is yet to announce the accurate amount of dividend payment on the ASX.
As the market conditions have begun to improve these days, with a lesser threat of COVID-19, Telstra expects to offer a higher amount of dividend in the upcoming financial years.
Recently, Telstra has been in news for securing its deal with McAfee, which will provide cyber security to Telstra’s customers across Australia. This collaboration deal with McAfee was a part of Telstra’s revenue improvement strategy in Australia. As a result of this collaboration, Telstra’s customers will be offered options concerning cyber security and privacy. These options include an antivirus system, identity protection, and parental control provision.
An overview of Telstra’s share price performance on the ASX:
Shares of this internet service provider have been highly volatile in the past one year. However, Telstra managed to perform well on the ASX as its share price has gained almost by 3% in a year. However, on Y-T-D basis, the share price has lost more than 7% on the ASX (as of 4:10 PM, 13 July).
