The Telstra Group Ltd (ASX: TLS) share price is $4.90, up 0.2% at the time of writing on Friday.
In FY25, Telstra shares paid a fully franked dividend of 19 cents per share.
Based on today's share price, that equates to a trailing dividend yield of 3.9%.
Analysts expect a slightly bigger payment from the ASX 200 telco stock next year.
The consensus expectation among analysts on the CommSec platform is for Telstra to pay a 20-cent dividend for FY26.
That equates to a forward dividend yield of 4.1%.
Telstra has released its corporate calendar for 2026, which includes when the dividends will be announced.
Get your diary out.
Dividend dates for Telstra shares in 2026
Telstra will announce its FY26 half-year results and interim dividend on 19 February.
The ex-dividend date for the interim Telstra dividend will be 25 February.
The record date will be 26 February.
If you'd like Telstra to use your dividends to buy more stock on your behalf, you can enrol in the dividend reinvestment plan (DRP).
The DRP form must be lodged by 27 February.
Telstra shareholders will receive their dividends on 27 March.
The telco will announce its FY26 full-year results and final dividend on 20 August.
The ex-dividend date for the final Telstra dividend will be 26 August.
The record date will be 27 August, and the DRP deadline will be 28 August.
Telstra will pay its shareholders on 24 September.
The telco will hold its annual general meeting on 13 October.
What do the experts think of Telstra shares?
The Telstra share price is up 21.3% in 2025.
This compares to a 4.9% bump for the market benchmark S&P/ASX 200 Index (ASX: XJO).
UBS and Jarden both have a hold rating on Telstra shares with a 12-month price target of $4.80.
This implies a potential downside of 2% over the next 12 months.
UBS predicts a slightly higher dividend for FY26 than the consensus estimate on CommSec.
The broker is tipping that the telco will pay 21 cents per share in FY26.
UBS also reckons Telstra's annual dividend could increase every year thereafter until it reaches 30 cents per share in FY30.
This is why my colleague, Tristan, considers Telstra shares a 'retiree's dream'.
Macquarie is more ambitious on Telstra shares.
The broker has an outperform rating on the ASX 200 telco stock with a price target of $5.04.
This suggest a potential upside of 2.85% over the next year.
Macquarie predicts that Telstra will pay 20 cents per share in dividends for FY26.
