AT&T announces 12.7% dividend increase, new share buyback authorization

December 11, 2007

1 Min Read

SAN ANTONIO -- AT&T Inc. (NYSE:T - News) 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.”

AT&T Inc. (NYSE: T)

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