AT&T Declares Quarterly Dividend, Announces Stock Buybacks
Mar 29th 2013 7:44PM
Updated Mar 29th 2013 7:46PM
AT&T will try to boost shareholder value with a twin-barreled shot of dividends and buybacks. The company will distribute $0.45 per share of its common stock on May 1 to shareholders of record as of April 10. That amount matches the telecom operator's previous payout, which was distributed in January. Prior to that, it handed out $0.44.
The just-declared dividend annualizes to $1.80 per share. That yields 4.9% at AT&T's current stock price of $36.69.
The firm also announced a fresh stock buyback program. Its board has authorized the repurchase of up to 300 million shares. There is no expiration date on the authorization, which covers a total of roughly 5.5% of common stock outstanding.
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