AT&T Raises Dividend, May Buy $8.77 Billion in Stock
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AT&T Inc., the largest U.S. phone company, boosted its dividend for the 27th consecutive year and said it will buy back as many as 300 million shares as wireless-customer gains help its cash flow.
AT&T raised its quarterly dividend 2.4 percent to 43 cents from 42 cents, representing a 6.5 percent yield on the carrier’s average share price this year. Analysts including Piper Jaffray & Co.’s Chris Larsen and Credit Suisse Group AG’s Jonathan Chaplin, both based in New York, expected 43 cents.