AT&T Inc. (NYSE:T) declared a quarterly dividend on Tuesday, December 17th, Wall Street Journal reports. Shareholders of record on Friday, January 10th will be given a dividend of 0.52 per share by the technology company on Monday, February 3rd. This represents a $2.08 annualized dividend and a dividend yield of 5.40%. The ex-dividend date is Thursday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.51.
AT&T has raised its dividend by an average of 0.0% annually over the last three years and has increased its dividend annually for the last 34 consecutive years. AT&T has a dividend payout ratio of 57.8% meaning its dividend is sufficiently covered by earnings. Analysts expect AT&T to earn $3.61 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 56.5%.
AT&T (NYSE:T) last posted its earnings results on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The firm had revenue of $44.59 billion for the quarter, compared to analysts’ expectations of $45.45 billion. During the same quarter last year, the firm earned $0.90 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts predict that AT&T will post 3.57 EPS for the current year.
Several equities analysts have commented on T shares. Moffett Nathanson cut shares of AT&T from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a research report on Tuesday, November 19th. Oppenheimer set a $41.00 price target on shares of AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. Bank of America reaffirmed a “buy” rating on shares of AT&T in a report on Monday, September 9th. DZ Bank reaffirmed a “hold” rating and issued a $38.00 price target on shares of AT&T in a report on Wednesday, September 18th. Finally, raised AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $39.22.
About AT&T
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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