AT&T Announces 12.7 Percent Dividend Increase, New Share Buyback Authorization
24th Consecutive Annual Dividend Increase
San Antonio, Texas, December 11, 2007
AT&T Inc. (NYSE:T) today announced that its board of directors has approved a 12.7 percent increase in the company's quarterly dividend, the largest annual increase in the company's history, and a new 400 million share repurchase authorization.
AT&T directors increased the quarterly dividend rate from $0.355 to $0.40 a share on a quarterly basis and from $1.42 to $1.60 a share on an annual basis.
At the same time, AT&T announced a new share repurchase authorization for 400 million shares, which replaces the authorization announced in 2006 under which AT&T repurchased more than $13 billion of its shares through Dec. 7, 2007. Based on current market conditions and the company's outlook, AT&T expects to complete the repurchases available in the new authorization by the end of 2009.
"This latest dividend increase, combined with the new share repurchase authorization, reflects the strength of AT&T's operations, and our board's confidence in the future of our business and our ability to continue to deliver strong results," said Randall Stephenson, AT&T chairman and CEO. "AT&T has great assets in a growth industry, and we're excited about the opportunities we have to continue to grow our business while also delivering value to shareowners."
The dividend will be payable on Feb. 1, 2008, to common shareowners of record on Jan. 10, 2008. The timing and nature of repurchases are subject to market conditions and applicable securities laws.
Note: This AT&T release and other news announcements are available as part of an RSS feed at www.att.com/rss.
| FIND MORE INFORMATION ONLINE | |
| Related Media Kits: | Related Fact Sheets: |
|---|---|
| Related News Releases: | Web Sites: |
About AT&T
AT&T Inc. (NYSE:T) is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at www.att.com.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. This news release may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company's Web site at www.att.com/investor.relations.
© 2007 AT&T Intellectual Property. All rights reserved. AT&T, AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
