Telstra 2007 Annual Report Download - page 261

Telstra Corporation Limited and controlled entities
258
Notes to the Financial Statements (continued)
We are not aware of any matter or circumstance that has occurred
since 30 June 2007 that, in our opinion, has significantly affected or
may significantly affect in future years:
•our operations;
• the results of those operations; or
• the state of our affairs;
other than:
Dividend declaration
On 9 August 2007, the directors of Telstra Corporation Limited
declared a fully franked final dividend of 14 cents per ordinary share.
The record date for the final dividend will be 24 August 2007 with
payment being made on 21 September 2007. Shares will trade
excluding the entitlement to the dividend on 20 August 2007.
A provision for dividend payable has been raised as at the dat e of
declaration, amounting to $1,740 million. The final dividend will be
fully franked at a tax rate of 30%. The financial effect of the dividend
declaration was not brought to account as at 30 June 2007.
There are no income tax consequences for the Telstra Group and
Telstra Entity resulting from the declaration and payment of the final
ordinary dividend, except for $746 million franking debits arising from
the payment of this dividend that will be adjusted in our franking
account balance.
Dividend reinvestment plan
On 4 July 2007, Telstra Corporat ion Limited announced the
commencement of a dividend reinvestment plan ("DRP"). The election
date for participation in the DRP is 24 August 2007.
Seven Network Limited and C7 Pty Limited litigation
In November 2002, Seven Network Limited and C7 Pty Limited ('Seven')
commenced litigation against us and various other parties ('the
respondents') in relation to the contracts and arrangements between
us and some of those other parties relating to the right to broadcast
Australian Football League and National Rugby League, the contract
between FOXTEL and us for the provision of HFC cable services (the
Broadband Co-operation Agreement) and other matters. Refer to note
27 for further details.
On 27 July 2007 the Federal Court dismissed Seven's case on all
grounds. Final orders will be made, aft er the parties make
submissions on costs. The decision could be subject to appeal by
Seven.
35. Events after balance date