SYDNEY — Telstra Group Limited (ASX:TLS) finished Friday’s session (12 December 2025) slightly lower, then posted a fresh after-hours update on its on‑market share buyback. For investors tracking Telstra’s dividend profile, capital returns, and the broader “defensive” trade on the ASX, the late-day disclosure is the key headline to digest before the next trading session.
A quick calendar reality check: 13 December 2025 is a Saturday, and the ASX cash market does not trade on weekends, so there is no Saturday “market open.” The next Telstra price discovery on the ASX will be the next business day session. [1]
Telstra share price recap: how TLS closed on 12.12.2025
Telstra ended 12 December at A$4.87, down 0.20% on the day, and ranked among the ASX’s top 20 shares by value traded with about A$92.19 million in turnover. [2]
Market data for the session shows Telstra traded in a relatively tight intraday range: open A$4.90, high A$4.92, low A$4.86, close A$4.87, with reported volume of 18,971,834 shares. [3]
That “flat-to-slightly-down” finish fits the broader pattern investors often see in mature, high‑ownership telecom names: plenty of liquidity, but usually fewer fireworks—unless capital management, guidance, or regulation enters the chat.
After-hours headline: Telstra disclosed another big buyback day
After the market close, Telstra released an Appendix 3C (daily buy-back notification) dated 12/12/2025, reporting it repurchased 2,401,863 ordinary shares on the day. [4]
Here are the key numbers from the filing:
- Shares bought back on 12/12/2025: 2,401,863 [5]
- Total consideration paid for that day:A$11,725,900.04 [6]
- Price range paid on the day:low A$4.87 / high A$4.92 [7]
- Cumulative shares bought back prior to that day: 127,689,851 [8]
- Buyback broker named in the form:Barrenjoey Markets Pty Limited [9]
The same Appendix 3C reiterates the program framing and timing:
- Proposed buy-back start date: 9/9/2025
- Proposed buy-back end date: 30/6/2026 [10]
- Telstra states it intends to buy back shares “up to approximately $1 billion in value” (rather than a fixed share count), and it reserves the right to suspend or terminate the buyback at any time. [11]
The release timestamp shown by market-distribution services for this update was 4:59pm on 12 December. [12]
What the math implies (not new guidance—just arithmetic)
Using the Appendix 3C figures, Telstra’s buyback totals as of that update imply:
- Total shares repurchased to date: 127,689,851 + 2,401,863 = 130,091,714 shares
- Total spend to date: A$625,228,142.84 + A$11,725,900.04 = A$636,954,042.88
Those totals come directly from summing the disclosed “before previous day” and “on previous day” numbers in the form. [13]
Why this matters: buybacks can act like a “persistent bid” (with limits)
Daily buyback notices aren’t flashy, but they’re not meaningless either—especially when the daily repurchase size is material.
In practical market terms, a steady on‑market buyback can:
- Reduce the share count over time (supporting earnings per share mechanically, all else equal).
- Provide incremental demand during the trading day, sometimes smoothing dips.
- Signal capital‑management confidence—though it’s not the same as raising earnings guidance.
But buybacks also have clear limits:
- They don’t fix competitive pressure, pricing dynamics, or capital expenditure needs.
- If a company buys aggressively at stretched valuations, it can destroy value rather than create it.
- Telstra explicitly states it may buy back shares only when it considers it beneficial and can pause/stop at any time. [14]
What analysts and forecasting models were saying around 12.12.2025
Because Telstra is widely covered, investors typically triangulate between (1) broker/consensus targets, (2) fundamentals-based growth expectations, and (3) technical signals—often getting three different “vibes” at once.
Street-style consensus: small upside, split between Buy and Hold
One widely cited consensus snapshot (compiled from 14 analysts) put Telstra’s average 12‑month price target at A$4.93857, with a high estimate of A$5.4 and low estimate of A$4.2. The same snapshot shows 7 Buys, 7 Holds, 0 Sells, resulting in an overall “Buy” consensus label and roughly ~1.4% indicated upside from the prevailing price level shown there. [15]
Fundamentals-style growth view: mid-single-digit earnings growth
A fundamentals-oriented forecast summary for Telstra projects:
- Earnings growth: ~4.8% per year
- Revenue growth: ~2.3% per year
- EPS growth: ~6.0% per year
- Future ROE: ~19.3% (forecast horizon noted on the page) [16]
These are not guarantees—just model-driven expectations based on analyst estimates and assumptions.
Technical read: not always friendly to “yield defensives”
Technical indicator dashboards can disagree sharply with fundamentals. One technical summary flagged a “Strong Sell” signal based on moving averages and related indicators (a reminder that “boring stocks” can still look technically overextended after a strong run). [17]
Macro context from 12 December: why global risk appetite still matters for Telstra
Even if Telstra’s business is overwhelmingly domestic and subscription‑heavy, its share price can still be pulled by the gravitational tides of global markets—especially on the ASX, where sector rotation can dominate individual narratives for days at a time.
On 12 December, global equities pulled back with a tech-led tone, and bond yields were a key part of the story in market coverage. [18]
For Telstra specifically, the macro lens many traders use is simple:
- Telstra is often treated as a defensive + income stock.
- When bond yields rise, “bond proxy” equities (including telcos and utilities) can lose relative appeal.
- When markets turn risk-off, defensives can sometimes hold up better—but not always, especially if the selloff is broad. [19]
What to know before the “market open” on 13.12.2025 (and the next ASX session)
Since Saturday has no ASX trading session, the practical question becomes: what should investors have on their checklist before the next business-day open? [20]
1) Watch for the next buyback notices (pace matters)
Telstra’s daily Appendix 3C disclosures are a running tape of how quickly the company is putting its buyback capacity to work. Another large repurchase day (or a sudden slowdown) can shift near-term supply/demand—especially in a stock with heavy retail and income-fund ownership. [21]
2) Know the ASX timing mechanics for “after the bell” headlines
ASX trading has defined phases, including a closing auction and post-close window in Sydney time—useful context when interpreting why an announcement hits when it does. [22]
3) Keep Telstra’s upcoming catalyst calendar in view
Telstra’s investor calendar lays out several dates that matter for dividend-focused holders:
- 19 Feb 2026: Half-year results announcement
- 25 Feb 2026: Ex-dividend trading commences (interim dividend)
- 27 Mar 2026: Interim dividend paid [23]
These aren’t immediate “next session” catalysts, but they shape positioning and expectations—especially as the market starts to price the next dividend decision.
4) Reconcile “income appeal” with valuation and rate sensitivity
Market data services currently peg Telstra’s dividend yield around the high‑3% area (depending on methodology and timing). [24]
In a world where rates and bond yields can move quickly, that yield narrative can strengthen or weaken without Telstra changing anything operationally.
Bottom line: a quiet close, a loud buyback tape
Telstra stock ended 12 December essentially flat in the bigger picture—A$4.87, down 0.20%—but the after-hours buyback disclosure confirmed Telstra is still an active buyer of its own shares, with 2.40 million shares repurchased on the day at A$4.87–A$4.92. [25]
Heading into the next trading session (not Saturday), the immediate watch items are straightforward: buyback pace, rate/yield backdrop, and any fresh company or sector headlines that could force investors to re-price the “defensive income + capital return” story.
References
1. www.tradinghours.com, 2. www2.asx.com.au, 3. stockanalysis.com, 4. company-announcements.afr.com, 5. company-announcements.afr.com, 6. company-announcements.afr.com, 7. company-announcements.afr.com, 8. company-announcements.afr.com, 9. company-announcements.afr.com, 10. company-announcements.afr.com, 11. company-announcements.afr.com, 12. www.marketindex.com.au, 13. company-announcements.afr.com, 14. company-announcements.afr.com, 15. www.investing.com, 16. simplywall.st, 17. www.investing.com, 18. www.reuters.com, 19. www.reuters.com, 20. www.tradinghours.com, 21. company-announcements.afr.com, 22. www.asx.com.au, 23. www.telstra.com.au, 24. www.investing.com, 25. www2.asx.com.au
