Here's why the Telstra (ASX:TLS) share price just hit a new 52-week high

The telco has had a few greenshoots sprout this July.

| More on:
rising ASX Telstra share price represented by man jumping in the air for joy looking at mobile phone

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Telstra Corporation Ltd (ASX: TLS) share price just hit a new annual high. By market close, shares in the telco giant were swapping hands for $3.77 – down 0.79%. However, shares did reach an intraday, and yearly high, of $3.83. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) slumped 0.76% today.

While there haven't been any market announcements since 19 July, Telstra shares have been on the up.

Let's take a closer look.

Another record-breaking day

While Telstra hasn't made any announcements recently, investor sentiment is probably pushing its share price higher.

For example, for the first time in a long time, Telstra is talking growth. CEO Andy Penn said back in February he was aiming for earnings before interest, taxes, depreciation, and amortisation (EBITDA) to be higher in FY22 and greater again in FY23.

"To get the real benefits from all the effort we've already made, Telstra needs to be bold. I've set an aspiration for mid to high single-digit growth in underlying EBITDA in FY22 and $7.5 to $8.5 billion of underlying EBITDA in FY23. I am confident we can deliver this if we remain focused," he said at the time.

Another possible reason the Telstra share price is reaching new heights? Dividends.

It's expected to pay 16 cents per share for FY21 and again for FY22 – which calculates at a yield of 4.2%. Goldman Sachs expects the dividend, and the share price, to increase to 18 cents and $4.20, respectively.

In market news, the last announcement Telstra made was confirming it was looking to buy Oceania company Digicel Pacific in partnership with the Australian government.

A little further back, the largest appreciation of the Telstra share price in a single day in 2021 occurred on 30 June. That was the day Telstra announced the sale of a 49% interest in its mobile towers business. $1.4 billion of the net proceeds (50%) is expected to be returned to shareholders, either via a buyback or a special dividend.

Telstra share price snapshot

Over the past 12 months, the Telstra share price increased 11.9%. Year-to-date it is up an even greater 25.3%. Over the last 5 years, however, its value has plummeted 35%.

Telstra has a market capitalisation of approximately $45.2 billion.

Should you invest $1,000 in Agl Energy Limited right now?

Before you buy Agl Energy Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Agl Energy Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Communication Shares

man looks at phone while disappointed
Communication Shares

$10,000 invested in Telstra shares at Christmas is now worth

Should you have put $10,000 into the telco giant before the Christmas break? Let's find out.

Read more »

A woman sits on sofa pondering a question.
Broker Notes

Battle of the online classifieds: Should I buy Car Group or Seek shares?

Brokers rate both shares highly.

Read more »

A woman standing in a blue shirt smiles as she uses her mobile phone.
Communication Shares

Telstra is rewarding its shares investors today

Here's how.

Read more »

A couple makes silly chip moustache faces and take a selfie on their phone.
Communication Shares

$10,000 invested in Telstra shares 5 years ago is now worth…

Buying Telstra shares in March 2020 would have delivered some term-deposit-busting returns.

Read more »

A cute little kid in a suit pulls a shocked face as he talks on his smartphone.
Communication Shares

TPG share price higher following ACCC decision

TPG shares are lifting on Thursday after the ACCC issued a statement regarding a proposed asset sale to Vocus Group.

Read more »

Young woman using computer laptop with hand on chin thinking about question, pensive expression.
Communication Shares

Are Telstra shares a good buy right now?

Should I buy Telstra shares today?

Read more »

two young boys dressed in business attire and wearing spectacles sit side by side and watch closely an old fashioned television box receiver with built in wire ariels.
Communication Shares

Can Nine's new CEO lead a turnaround?

It hasn’t been a great year for the stock.

Read more »

Ordinary Australians waiting at the bus stop using their phones to trade ASX 200 shares today
Communication Shares

Where will Telstra shares be in 3 years?

Let’s look into the possible future for the telco giant.

Read more »