TLS 0.51% $3.88 telstra corporation limited.

ABN Amro dividend yield bottom TLS 4.40

  1. 4,330 Posts.
    http://www.smh.com.au/articles/2002/06/08/1022982783417.html
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    Telstra shares under pressureBy John SynnottJune 9 2002
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    The Sun-Herald
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    A slide in telco and computer stocks overseas is set to increase pressure on Telstra shares, which hit a four-year low of $4.55 on Friday.
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    Stockbrokers ABN Amro see Telstra bottoming at $4.40 at present dividend levels - adding up to a $3 loss on the price at which the Government sold T2 shares.
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    Uncertainty over a further sale of Telstra stock is blamed, but the market is changing its view of telcos from growth to yield stocks.

    "A lot of people feel that growth will be hard to find by Telstra because of pressure on telco price margins around the world," ABN Amro associate director Simon Bond said.
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    "There is a view they should lift the dividend to make it a high-yielding stock rather than a growth stock. That is a decision for the board and the outcome is difficult to predict."
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    Things could be worse for Telstra shareholders - British mobile telephone operator Vodafone was down 1.5 per cent to 95 pence ($2.42), its lowest level since early 1998 and a quarter of the high point of £3.99 it reached in March 2000.
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    The US stockmarket decline continued yesterday with shares in the world's biggest computer chip maker, Intel, tumbling $US5 to $US22 when it lowered its second-quarter sales forecast.
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    "The big picture is still that the market needs to see earnings improve, and that hasn't happened yet," Mike Kayes, chief investment officer at Eastover Capital, said.
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    For the week, the Dow Jones Industrial Average lost 3.4pc, the Nasdaq tumbled nearly 5pc and S&P fell 3.7pc.
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    The US dollar fell for a ninth week in 10 against the euro.
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