Company has increased quarterly dividends for 35 consecutive years through 2018
The board of directors of AT&T Inc. (NYSE:T, news, filings) today declared a quarterly dividend of $0.51 a share on the company’s common shares. The dividend is payable on November 1, 2019, to stockholders of record at the close of business on October 10, 2019.
Through 2018, AT&T has increased its quarterly dividend for 35 consecutive years, and the company’s strong cash flows have allowed it to support a strong dividend policy.
In the first half of 2019, AT&T generated $14.7 billion in free cash flow with a free cash flow dividend payout ratio of 50.6%, down from 77.3% in the first half of 2018.
The company expects full-year 2019 free cash flow in the $28 billion range, with a full-year dividend payout ratio in the 50% range versus 60% in 2018.1
1 Free cash flow is cash from operating activities minus capital expenditures. Free cash flow dividend payout ratio is dividends divided by free cash flow.