Telstra announces new support for ReachOut through shareholder giving program

12 October 2016

Digital mental health organisation ReachOut Australia has been announced as the official recipient of Telstra’s shareholder donations for the next two financial years.

In FY16, these residual donations amounted to $590,000 for the Summer Foundation – two financial years could equate to more than $1 million in funding to ReachOut.

When Telstra shareholders reinvest their dividends into shares as part of Telstra’s Dividend Reinvestment Program, any residual amounts - from 1 cent to just under a full Telstra’s share price of $5.50 today - will be donated to ReachOut.

ReachOut is close to home for Telstra’s Director of Retail Operations, Andrew Smith, who found ReachOut via a Google search at just the right time as a 21-year-old.

Smith, 33 from Melbourne, describes his downward spiral into depression after a medical condition ended his life-long dream of becoming a pilot, and feeling lost at not knowing where to turn for assistance.

“ReachOut connected me with the help and the people that I needed – now just a decade later, I can comfortably say that and I would not be where I am today without ReachOut,” Smith said.

“At Telstra, we believe in the power of technology and digital innovation to change lives. It’s a vision that we share with ReachOut.

“Over the past 10 years this non-profit has grown to be a world-leader in youth mental health, and I am so proud to say that with the support of Telstra shareholders, their vital work is about to be amplified.”

Telstra shareholder donations will be invested into creating an intuitive service that empowers young people to take control of their mental health.

ReachOut CEO Jono Nicholas said the announcement was a major boost in his organisation’s work, with one in four young Australians are experiencing a mental health difficulty.

“We are so grateful to Telstra and its shareholders for this opportunity. When 70 per cent of young people who need help don’t get it, we need to be doing everything we can to address the unmet need for mental health support,” Nicholas said.

Full story of Telstra’s Director of Retail Operations, Andrew Smith and Telstra Dividend Reinvestment Program (DRP) at telstrafoundation.com/drp-reachout/.