AT&T Stock Soars Amid Growth Plans and Shareholder Incentives
TL;DR Summary
AT&T's stock surged as CEO John Stankey outlined a growth strategy focused on expanding its 5G and fiber networks, following the sale of its DirecTV stake. The company plans to invest $22 billion over three years to double its fiber network and expand its 5G reach to 200 million homes by 2029. AT&T aims to return $40 billion to shareholders through dividends and buybacks, while defending its annual dividend of $1.11 per share. The company also raised its 2024 profit forecast, contributing to a 5.5% rise in premarket trading.
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- AT&T Gave Up on the Media Business, and Its Stock Has Surged The Wall Street Journal
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- AT&T Stock Buyback Announcement Expected At Investor Day Investor's Business Daily
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