Telstra has doubled its dividend yield on the company’s common stock in the past year, as it continues to push the price of its common stock higher.
The company said the payout on Friday was 1.5 per cent, which is the largest dividend payout ever given by a telco.
Telstra said the dividend was a result of the company increasing the price for its common shares by 10 per cent in 2018.
The dividend payout comes at a time when Telstra is battling with competitors Huawei and Huawei-owned Vodafone.
The telco recently agreed to buy rival Vodacom in a deal valued at $3.4 billion.
It is the latest dividend payout for Telstra as the telco’s shares have climbed since the company was acquired by Verizon.
The dividend payout on Telstra shares was the highest since the Telstra board met on July 20, and the company also said on Friday that it is on track to meet the 2020 target for revenue.
Its shares rose 4 per cent to $39.86 in after-hours trading on Friday.