AT&T Keeps up its Reputation and Raises Dividend for Consecutive 28th year

AT&T Inc (NYSE:T) announced its annual dividend on Friday and retained its reputation as the high dividend growth stock. The company has increased its annual dividend for the 28th consecutive year. AT&T raised its dividend by $0.44 per share to $1.76 per share as compared to increase of $0.43 per share to $1.72 per share last year.

The ex dividend date will be February 1st, 2012 while it will be paid to shareholders on the record of January 10th, 2011.

The share price gained 0.21 percent to close at $28.85 in today’s session. Investors were optimistic about the stock as the traded volume stood at 44.93 million shares as compared to its average traded volume figure of 23.62 million shares per day.

Currently the stock is trading at price to earnings of 14.64 times and if compared to its competitors, AT&T happens to be cheapest. Among its industry peers, Verizon Communications (NYSE:VZ) is trading at a price to earnings of 15.56 times while Frontier Communications (NYSE:FTR) is trading at a P/E of 32.56 times.

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Alan Smalling

About Alan Smalling

Alan is the latest addition to our news and development team. He has worked with Pete previously on other financial websites. When we can keep him at low altitude, his contributions will mainly be focused on company news and new product launches.

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