The Australian share market has closed higher, managing modest gains despite heavyweight Telstra’s shares dropping as it paid out dividends.

At the close on Wednesday, the benchmark S&P/ASX200 index was 13.6 points, or 0.24 per cent, higher at 5,651.2, while the broader All Ordinaries index was up 14.4 points, or 0.26 per cent, at 5,648.9, according to preliminary figures.

On the ASX 24, the September share price index futures contract was 28 points higher at 5,624, with 19,007 contracts traded.