The Telstra Corporation Ltd (ASX: TLS) share price has fallen sharply over the past 12 months.
Although Telstra shares have gained 0.5% today to trade at $4.09, that share price represents a decline of 27.1% over the past year, and 19.8% since the beginning of 2017. That compares to a gain of 1.2% for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) so far this year.
Telstra is Australia's largest telecommunications business with a market capitalisation of more than $48 billion. However, its shares have come under intense pressure as a result of tougher competition and the rise of the national broadband network, or NBN.
Further, there are also fears over the telco's lucrative fully franked dividend. The company has distributed 31 cents per share (fully franked) in dividends over the past 12 months, representing a yield of almost 7.6% at the current share price. But expectations of the dividend being cut in the near future have certainly dampened the market's enthusiasm surrounding the shares.
Telstra's dividend was recently covered by Motley Fool contributor Owen Raszkiewicz, which you can read, here.
