AT&T Impresses with Strong Dividend and Subscriber Growth

Published 8 hours agoT

AT&T Impresses with Strong Dividend and Subscriber Growth

AT&T is making headlines as a top choice for dividend-seeking investors, boasting a dividend yield of approximately 5.2%. This stability has caught the attention of Wall Street analysts, who continue to view AT&T as a strong investment. The company is recognized for offering a reliable income stream alongside prospects for growth.

In terms of performance, AT&T has made significant strides. In the first quarter of 2024, AT&T successfully added 349,000 net monthly bill-paying wireless subscribers, surpassing the expected number of 286,800. Moreover, AT&T's broadband revenue saw a notable increase of 7.7%, fueled by the expansion of its fiber network. Analysts such as Tigress Financial Partners' Ivan Feinseth and Scotiabank's Maher Yaghi maintain 'Buy' ratings on the stock, with Feinseth targeting a price of $30 and Yaghi boosting his target to $28.5.

AT&T's future strategy includes returning over $40 billion to its shareholders through dividends and stock buybacks by 2026, starting with an initial $10 billion repurchase plan. This strategic approach underlines AT&T's commitment to maintaining robust shareholder returns, reinforcing its standing as a top dividend stock with consistent performance. Reuters reported these developments, highlighting the company's reliable track record.

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