Investor Alert

Market Pulse Archives

April 7, 2020, 7:25 a.m. EDT

AT&T adds $5.5 billion term loan to already 'strong' cash position, expects to keep paying dividend

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    AT&T Inc. (T)
  • X
    Dow Jones Industrial Average (DJIA)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

AT&T Inc. /zigman2/quotes/203165245/composite T +2.13% provided Tuesday an update on its financial position amid uncertainties surrounding the impact of the COVID-19 pandemic, saying it had a "strong" cash position and "attractive" liquidity. Since Dec. 31, when the telecommunications and media company had $12 billion in cash on hand, the company received in February about $4 billion from preferred stock issuances, cancelled in March a $4 billion accelerated stock repurchase plan and suspended all other share buybacks and on Tuesday has announced a $5.5 billion term-loan agreement with 12 banks. The company also has a $15 billion revolver that it doesn't expect to draw on this year. AT&T said it plans to continue paying its dividend. The company said the funded status of its pension fund is about the same as the end of 2019, which no cash funding requirements expected through 2022. The company said it will provide more information on COVID-19 impacts when it reports first-quarter results on April 22. The stock, which rose 2.6% in premarket trading, has shed 25% over the past three months through Monday, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.54% has lost 21%.

$ 29.23
+0.61 +2.13%
Volume: 44.01M
Nov. 24, 2020 7:00p
P/E Ratio
Dividend Yield
Market Cap
$203.95 billion
Rev. per Employee
US : Dow Jones Global
+454.97 +1.54%
Volume: 436.45M
Nov. 24, 2020 5:11p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.