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Telstra is still a yield play

Telstra's profit caused a sell-off in the sharemarket but its status as a reliable dividend payer is likely to be preserved.

Telstra looks like holding on to its position as a reliable dividend yield play despite a decidedly negative market response to its 2020 profit numbers.

Chief executive Andy Penn was not rewarded for issuing relatively positive 2021 profit guidance and nor was the market cheering the decision to slash the company's return on invested capital (ROIC) target from 10 per cent to "greater than 7 per cent".

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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com

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    Original URL: https://www.afr.com/chanticleer/telstra-is-still-a-yield-play-20200813-p55l9v