AT&T: The Narrative Should Start Shifting To Dividend Growth


  • In recent years, the actions of AT&T have left many investors jaded and hesitant, thereby creating a poor narrative.
  • As everyone knows, their bungled Time Warner acquisition and subsequent spin-off saw their once cherished dividends cut.
  • I suspect this poor story laced with disappointments contributed to their lackluster share price performance across recent years.
  • When looking ahead, their results for 2022 and guidance for 2023 sees a potential reset as they hopefully move towards a narrative of dividend growth.
  • When combined with their deleveraging, this should help remove one of the bear cases, and thus, I believe that maintaining my strong buy rating is appropriate.

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The prospects of weaker economic conditions have been lingering since the middle of 2022 when it seemed there was a recession knocking, although, in the case of the beaten down AT&T (NYSE:T), their

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Disclosure: I/we have a beneficial long position in the shares of T either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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