Spark signals $350m share buyback with TowerCo proceeds

CEO Jolie Hodson said Spark is "on track to deliver our FY23 ambitions". (Image: Spark)

Wed, 24 Aug 2022

Spark is firing on all cylinders with numbers up across the board for the June financial year, posting a net profit of $410 million, up 7.6% over the previous period’s $381m.The major telco’s board declared a final dividend of 12.5 cents per share, taking the annual return to 25cps and signalled plans to lift that to 27cps in the 2023 June year.Following the $900m capital injection from the sale of its passive tower assets, Spark is also promising a $350m on-market share buyback once the deal is completed.Another $350m will be inves...

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