AT&T Teams Up To Slow Publicly Funded Web Services (T)

AT&T (T), along with a number of other telecom firms, has teamed up against state-funded web services that could be damaging to their networks.

Small-town mayors and public officials have made the push for publicly funded web services because they say private firms will not upgrade their services in smaller areas, noting that it would not be profitable for the companies to do so in certain cases. Thus far 19 states have placed some kind of limit on publicly funded web services, and AT&T and other telecom companies want to see more done to protect their business models.

AT&T shares were trading slightly higher early in Thursday’s session. The stock is up over 9% year-to-date.

The Bottom Line

Shares of AT&T (T) currently offer a 4.96% yield, based on Wednesday’s closing price of $36.29 and the company’s annualized dividend payout of $1.80 per share.

AT&T (T) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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