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Telstra set to return A$1.5B to shareholders

has announceda capital management program that will return at least A$1.5 billion to itsshareholders.

The telcogiant reportedly plans to fund the capital management program from the proceedsof its recent stakesale in Chinese car website Autohome. Payments will start duringthe first half of the 2017 financial year, according to a May 2 news release.

Telstra isexamining various options to return the capital to shareholders and willprovide specific details during the presentation of its full-year results inAugust.

As of April 29, US$1 was equivalent to A$1.31.