Former Dividend Aristocrat AT&T (T) has announced a dividend cut of 46.6% to $0.2775 per share in 2022. This follows a 2.0% dividend hike to $0.52 quarterly per share in the first quarter of 2020, at the time marking the 36th consecutive year of annual dividend increases by the communications company.
The lower T dividend is payable on May 2, 2022, to stockholders of record at the close of business on April 14, 2022. The new annual dividend of T is 5.3% at a stock price of $20.96.
AT&T Inc. is a global provider of telecommunications, media and entertainment, and technology products. The company's four operating units are WarnerMedia, AT&T Communications, AT&T Latin America and Xandr. WarnerMedia is a media and entertainment company that creates and distributes content to global audiences through its consumer brands including: HBO, Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim, Turner Classic Movies and others. AT&T Communications provides U.S. consumers with entertainment and communications experiences across TV, mobile and broadband services. Also, it serves business customers with high-speed, highly secure connectivity and smart solutions. AT&T Latin America provides pay-TV services in Latin America and the Caribbean, and is a wireless provider in Mexico, serving consumers and businesses. Xandr provides marketers advertising solutions for consumers around premium video content and digital advertising through its AppNexus platform. AT&T, formerly SBC Communications Inc./Southwestern Bell Corporation, has paid a dividend every year since at least 1984.