Australia's Telstra full-year profit falls 8.4%, cuts dividend

[BENGALURU] Australia's biggest phone company Telstra Corp Ltd reported a 8.4 per cent fall in annual profit after it wrote down to nothing the value of a six-year experiment in online video streaming earlier this year, and cut its final dividend.

Net profit fell to A$3.56 billion (S$3.56 billion) in the year ended June 30, from A$3.89 billion a year earlier

Telstra will pay a final dividend of 7.5 Australian cents per share, down from 15.5 Australian cents a share last year. It also declared a final special dividend of 3.5 Australian cents per share.

REUTERS