TELSTRA shares dropped a further three cents to $3.52, the lowest level since 1997. The company has also revised down its financial forecasts after the ACCC announced a reduction in the price Telstra could charge competitors for access to its extensive ULL network. As a result, the company revised down its revenue growth expectations announced earlier this month from 2 - 2.5 per cent to 1.5 - 2 per cent. Despite the earnings downgrade, the Telstra board declared dividends of 28 cents per share for the 2007 fiscal year.
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