It has a similar yield, but a much better growth outlook.
By Billy Duberstein
Last week, AT&T (NYSE:T) announced it would be spinning off its WarnerMedia unit and cutting its dividend. While these actions were probably the right moves for the company, there wasn't much joy from shareholders, as the stock sank on the news.
Many AT&T shareholders are retirees who likely held the stock for its high dividend, but the new AT&T dividend should only be a little more than half the current payout, likely just under 4% at the stock's current levels.
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