Telstra (ASX:TLS) is a provider of telecommunications and information products and services, arguably best known as Australia's dominant telco company.

Despite its troubles in recent years, TLS is a staple holding among retail investors and is still widely considered a .

Its principal activities are the provision of telephone lines; national local, and long distance, and international telephone calls; mobile telecommunications; data; internet and on-line; wholesale; telephone directories; and pay TV.

Today, TLS reported a 16.8% decline in FY11 net profit to $3.23 billion, although the result topped analyst expectations of a $3.09 billion profit.

Total revenue grew 0.7% on-year, whilst EBITDA fell 12.4%, matching TLS' previous guidance. A final dividend of 14 cents was declared, bringing the full year dividend to 28 cents.

TLS forecast a similar full year dividend in FY12, but this time was expecting low single digit growth in revenue and EBITDA.

The group based its forecast on the recent improvement in customer satisfaction as well as initiatives to simplify the company.

TLS has been one of the today following the release of its results.