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Technology Stocks : AT&T
T 24.35+1.2%3:59 PM EST
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From: Sr K10/29/2019 1:22:02 PM
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Tobias Ekman

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AT&T's plan over its next three years includes continued modest annual dividend growth, using 50% to 70% of post-dividend free cash flow to retire about 70% of the shares issued for the Time Warner deal, retiring all the acquisition debt from the Time Warner deal and a continued review of its portfolio with no major acquisitions.

"We have closely evaluated the company's three-year plan and support the steps toward a faster-growing, more profitable, focused and shareholder-friendly company," Elliott partner Jesse Cohn and associate portfolio manager Marc Steinberg said in a statement.

The company will also sell non-core assets and expects to close about $14 billion of such transactions in 2019 and between $5 billion to $10 billion in 2020.
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AT&T expects adjusted EPS of $3.60 to $3.70 in 2020, in line with consensus estimates of $3.65 per share, and between $4.50and $4.80 by 2022.
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