DALLAS--(BUSINESS WIRE)--AT&T Inc.’s Board of Directors today authorized the repurchase of up to 300 million additional shares, representing approximately 5 percent of AT&T shares outstanding, with no expiration date. This authorization is in addition to the 300 million share repurchase authorization approved by the Board of Directors in December 2010.
“This action allows us to continue returning cash to our shareholders through dividends and buybacks while maintaining a strong balance sheet and investing in the future of our business,” said Randall Stephenson, AT&T chairman and chief executive officer.
Under the December 2010 authorization, AT&T had repurchased 143.5 million of its shares for about $4.6 billion through June 30, 2012. Including dividends, the company returned nearly $10 billion to shareholders in the first half of 2012.
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AT&T Inc. (NYSE:T) is a premier communications holding company and one of the most honored companies in the world. Its subsidiaries and affiliates – AT&T operating companies – are the providers of AT&T services in the United States and around the world. With a powerful array of network resources that includes the nation’s largest 4G network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet, voice and cloud-based services. A leader in mobile Internet, AT&T also offers the best wireless coverage worldwide of any U.S. carrier, offering the most wireless phones that work in the most countries. It also offers advanced TV services under the AT&T U-verse® and AT&T │DIRECTV brands. The company’s suite of IP-based business communications services is one of the most advanced in the world.
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Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.