Telstra Plans Additional Share Buyback of Up To $654 Million

Telstra Group Ltd. will repurchase as much as A$1 billion ($654 million) of its stock on market, building on a A$750 million buyback completed in June, as Australia’s biggest phone company looks to return more cash to investors.

The program, expected to start after Sept. 8, comes on the back of earnings growth and a strong balance sheet, Chief Executive Officer Vicki Brady said in a statement Thursday.