Aug 17 (Reuters) - Telstra Corporation Ltd TLS.AX
* Telstra's dividend policy to reduce payout ratio to 70 - 90 per cent of telstra's underlying earnings
* fy18 capital expenditure is expected to be between $4.4 $4.8 billion
* fy18 free cashflow is expected to be in range of $4.4 $4.9 billion