Telstra's Capital Management Puts Stock on Course for Nine-Year High
By Stuart Condie
SYDNEY--Telstra shares are on course for their highest finish since 2017, after the Australian telecommunications provider increased the size of its buyback and beat analysts' interim dividend forecasts.
After about three hours of Thursday's session, the ASX-listed stock was up by 5.0% at 5.21 Australian dollars, equivalent to US$3.67.
Telstra shares last closed above that level in February 2017.
The stock has rallied 30% since the start of 2025, supported by share buybacks and earnings growth.
On Thursday, Telstra raised the ceiling on the share buyback it announced in August to A$1.25 billion, from A$1 billion. The program came on top of a A$750 million buyback it completed in June.
It also raised its interim dividend to A$0.105 a share, from A$0.095 a year earlier. That was stronger than most analysts had been expecting, with forecasts split between Telstra holding its dividend or raising it to A$0.10.
Writing in a note to clients, Jarden analysts said Telstra's purchase of A$637 million worth of shares in the December half highlighted the strength of its balance sheet.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
February 18, 2026 21:10 ET (02:10 GMT)
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