By Dave Sebastian 
 

AT&T Inc. said it expects its dividend payout ratio to be in the 60% range and toward the low end of that guidance, though it said it has limited visibility into the path to recovery in key areas of operations such as advertising and theatrical releases due to Covid-19.

AT&T said it is committed to supporting the dividend on its stock.

The company said it has reduced its debt maturing within the next four years by about $23 billion, down by about $8 billion since the end of the second quarter. It is using excess cash flow to further reduce debt, AT&T said.

AT&T said its WarnerMedia unit plans to continue to invest in content.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

August 12, 2020 11:24 ET (15:24 GMT)

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