AT&T’s board authorized the telecommunications giant to repurchase up to 300 million shares of stock and raise its quarterly dividend 2.4%. AT&T shares edged down 0.4%. Keith Springer, president of Springer Financial Advisors, said investors may have been anticipating a higher dividend boost.
Still, the fact that AT&T and other companies are embarking on initiatives that return value to shareholders rather than only hoard cash is a positive sign for the overall economy.
“Companies are feeling much more comfortable and finally confident in applying their cash and recognizing shareholder value,” Springer said.
View full article