Telstra sets buyback price range

Telstra will spend $750 million on share buyback with pricing now settled at the bottom end of expectations. Shareholders may offer to sell shares back to Telstra in a tender range of $4.05 to $4.65. This compares with last year's buyback price of $4.20. Telstra shares were trading at $4.70. The offer is split into two components – a capital value of $1.50 and a fully franked dividend, which is the difference between the eventual buyback price and $1.50.