AT&T Cancels Share Repurchase Plan
March 20 2020 - 7:36AM
Dow Jones News
By Matt Grossman
AT&T Inc. said Friday that it has cancelled a
share-repurchase agreement amid the Covid-19 pandemic.
In a filing with the Securities and Exchange Commission, the
company put the brakes on a plan to repurchase $4 billion of
AT&T stock during the year's second quarter. AT&T said the
cancellation would help it maintain flexibility.
AT&T added that the Covid-19 outbreak could have a material
effect on the company's results, but said it was too early to
estimate the impact.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
March 20, 2020 07:21 ET (11:21 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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