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Dividend sanctity takes a hit in Australia, world's top yielding market

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Telstra now plans to outlay as little as 70 per cent of underlying earnings as the regular dividend instead of distributing the entire profit.

Sydney

TELSTRA Corp is challenging Australia's addiction to dividends.

The nation's biggest phone company last month ended a 20-year run of steady dividends, saying it needed to sock away money for new technology. Other firms may follow, undermining Australia's reputation as a

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