AT&T maintains quarterly dividend, with yield above 7%

AT&T Inc. said Friday it was keeping its quarterly dividend at 27.75 cents a share, payable Nov. 1 to shareholders of record on Oct. 10. With the telecommunications and media company’s stock down 0.8% in afternoon trading, the annual dividend rate implies a dividend yield of 7.21%, which compares with the yield for the SPDR Communication Services Select Sector ETF of 1.17% and the implied yield for the S&P 500 of 1.83%, and the yield of the 10-year Treasury note of 3.742%. AT&T’s stock was the ninth-highest yielding stock in the S&P 500, behind leaders communications services company Lumen Technologies Inc. at 13.67% and oil and gas exploration company Pioneer Natural Resources Co. at 10.78%.

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