What happened
Telstra reported a 2.7 per cent increase in full-year net profit to $2.4 billion, lifted its full-year dividend by 10.5 per cent, and announced a $1 billion share buyback. Meanwhile, Rio Tinto dropped 3.6 per cent after confirming a $2.5 billion federal and state government support package to keep the Tomago aluminium smelter operating.
Why it matters here
Major Australian corporates are prioritizing shareholder returns through buybacks and increased dividends despite softer top-line growth. For resource investors, the Tomago package highlights how domestic industrial assets are relying on government assistance and heavy capital expenditure to manage elevated energy costs and protect local operations.
What to watch
Full details on execution timelines for Telstra's $1 billion buyback and reporting from other major industrial and mining companies.
Source
proactiveinvestors.com