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AT&T maintains quarterly dividend, with yield above 7%

AT&T Inc. T, -1.22% said Friday it was keeping its quarterly dividend at 27.75 cents a share, payable Nov. 1 to shareholders of record on Oct. 10. With the telecommunications and media company’s stock down 0.8% in afternoon trading, the annual dividend rate implies a dividend yield of 7.21%, which compares with the yield for the SPDR Communication Services Select Sector ETF XLC, -1.22% of 1.17% and the implied yield for the S&P 500 SPX, -1.51% of 1.83%, and the yield of the 10-year Treasury note TMUBMUSD10Y, 3.828% of 3.742%. AT&T’s stock was the ninth-highest yielding stock in the S&P 500, behind leaders communications services company Lumen Technologies Inc. LUMN, -1.36% at 13.67% and oil and gas exploration company Pioneer Natural Resources Co. PXD, +0.01% at 10.78%.

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