At&T Stock Price, News & Analysis

AT&T (NYSE:T) has announced its quarterly dividend declarations. The company's board approved a quarterly dividend of $0.2775 per share on common shares. Additionally, dividends were declared for Series A Preferred Stock at $312.50 per share ($0.3125 per depositary share) and Series C Preferred Stock at $296.875 per share ($0.296875 per depositary share). All dividends will be payable on February 3, 2025, to stockholders of record as of January 10, 2025.

AT&T (NYSE:T) has announced the redemption of its 5.625% Global Notes due 2067. The company redeemed the outstanding principal amount at a redemption price of $830,285,156.25, which equals 100% of the principal amount plus accrued interest through December 11, 2024. On a per note basis, the redemption price was approximately $25.160156. The Bank of New York Mellon Trust Company, N.A. serves as the paying agent for the Notes.

AT&T has outlined its multi-year strategic growth plan, focusing on network expansion and shareholder returns. The company aims to modernize its 5G wireless network by 2027, covering 300M+ people with mid-band spectrum by 2026. In broadband, AT&T plans to reach 50M+ locations with fiber by 2029, including 45M through organic deployment and 5M+ via Gigapower joint venture.

The company projects 2025 Free Cash Flow of $16B+ (excluding DIRECTV) and expects to generate $50B+ in financial capacity over the next three years. AT&T plans to return $40B+ to shareholders through dividends ($20B+) and share repurchases ($20B) from 2025-2027, maintaining its current $1.11 per share annual dividend. The company aims to achieve a net-debt-to-adjusted EBITDA ratio of 2.5x by first half of 2025.

AT&T unveiled a strategic plan focused on expanding America's largest fiber broadband network to over 50 million locations by 2029. The company expects to generate $40 billion+ in shareholder returns through dividends and share repurchases over the next three years, including a $10 billion initial share repurchase authorization by 2026. The plan projects low-single-digit annual consolidated service revenue growth from 2025-2027, with mobility service revenue growing 2-3% annually and consumer fiber broadband revenue growing in mid-teens annually. AT&T aims to achieve $16 billion+ in free cash flow by 2025, growing to $18 billion+ by 2027.

AT&T has announced a webcast featuring a fireside chat with CEO John Stankey at the UBS Global Media & Communications Conference on December 10, 2024. The event will begin at 8:15 a.m. ET and will be accessible through AT&T's Investor Relations website. The webcast will be available both live and for replay, with viewers advised to join a few minutes early to account for potential schedule adjustments. Interested parties can subscribe to AT&T's email alerts for automatic updates on financial news.

UScellular has announced an agreement to sell select spectrum assets to AT&T for $1.018 billion. The deal involves 1,250 million MHz-Pops of 3.45 GHz and 331 million MHz-Pops of 700 MHz B/C block licenses. This transaction is part of UScellular's strategy to monetize spectrum not included in the T-Mobile sale. Following this and previously announced transactions, UScellular will have agreements to monetize about 70% of its total spectrum holdings, representing approximately $2.02 billion in total consideration. The company will retain 1.86 billion MHz-Pops of low and mid-band spectrum, plus 17.2 billion MHz-Pops of mmWave spectrum.

AT&T announces the launch of an industry-first integrated gateway device combining fiber and 5G networks in a single-box solution. Available nationwide in early 2025 for new AT&T Business Fiber customers with speeds of 1 Gbps or higher, the device features automatic failover to AT&T's 5G network during fiber outages. The gateway includes Wi-Fi 6E technology and has already been rolled out in seven states. This solution aims to provide businesses with continuous connectivity, preventing revenue loss and productivity disruptions through seamless network switching.

AT&T and Corning have announced a multi-year purchase agreement valued at over $1 billion for next-generation fiber, cable, and connectivity solutions. As Corning's largest customer with preferential volume status, AT&T will utilize Corning's Evolv® portfolio to expand its fiber network. The agreement supports AT&T's goal of reaching 30M+ locations by 2025, building on their current coverage of 28.3M consumer and business locations. AT&T will implement Corning's latest Evolv® FlexNAP™ with Multifiber Pushlok® Technology, which complies with BEAD program requirements.

AT&T reported Q3 2024 results with revenues of $30.2 billion and adjusted EPS of $0.60. The company added 403,000 postpaid phone subscribers and 226,000 AT&T Fiber customers. Key highlights include 4.0% growth in Mobility service revenues to $16.5 billion and 6.4% increase in consumer broadband revenues to $2.8 billion. Despite weather challenges and work stoppage, AT&T maintained its full-year 2024 guidance, including wireless service revenue growth around 3%, broadband revenue growth of 7%+, and free cash flow of $17-18 billion.