AT&T Targets Dividend Payout Ratio to be in 60% Range in 2020
August 12 2020 - 11:39AM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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