Insights

Telstra (ASX:TLS) share price on watch following NZ update

The Telstra Corporation Ltd (ASX:TLS) share price will be on watch today after releasing an update on its New Zealand listing…
The post Telstra (ASX:TLS) share price on watch following NZ update appeared first on The Motley Fool Australia. –

ASX share price on watch represented by man looking through magnifying glass

The Telstra Corporation Ltd (ASX: TLS) share price will be on watch on Friday morning.

This follows the release of an announcement relating to its New Zealand listing.

What did Telstra announce?

This morning the telco giant revealed that its Board has decided to delist from the New Zealand stock exchange (NZX) and move to a sole listing on the ASX.

According to the release, the trading of Telstra shares on the NZX will cease at the close of business on Wednesday 16 June 2021.

After which, Telstra’s NZX shares will be transferred to the ASX and will commence trading on Monday 21 June 2021.

Why is it doing this?

Telstra explained that it was making the change partly to streamline its shareholder services and notes that New Zealand investors now have easy access to the ASX.

It explained: “Telstra is looking to simplify its administration and streamline its shareholder services. Telstra shareholders on the New Zealand register have been reducing over time and, given the accessibility of the ASX to New Zealand-based shareholders, Telstra considers that delisting from NZX is an appropriate step. Moving to a single listing on the ASX will progress these goals and we believe this is in the best interests of shareholders and the company.”

What impact will this have on shareholders in the future?

The company explained that there will be virtually no impact to both ASX and NZX shareholders from this.

In fact, when it comes to Telstra’s generous 16 cents per share fully franked dividend, the company will continue to pay this to shareholders in both currencies.

It commented: “Telstra will continue to pay dividends in Australian or New Zealand dollars. Shareholders must have either Australian or New Zealand bank account details registered by the dividend record date to be paid in that currency.”

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Telstra (ASX:TLS) share price on watch following NZ update appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!