After seven tumultuous years, Andy Penn is delivering a higher dividend and optimism about Telstra’s ability to deliver improved results and service as he hands over to Vicki Brady.
Telstra’s willingness to lift its dividend for the first time in seven years offers a neat synchronicity with Andy Penn’s exit after seven years as CEO.
It’s another example of what Penn describes as the “many ups and downs” of his tenure. This particular up enables him to proudly note the confidence of the board in the strategy he developed and to be continued by successor Vicki Brady, as well as the importance of dividends to Telstra shareholders.
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Jennifer Hewett is the national affairs columnist. She writes a daily column on politics, business and the economy. Connect with Jennifer on Twitter. Email Jennifer at jennifer.hewett@afr.com
