AT&T Inc. (NYSE:T) is included among the Best Strong Buy Dividend Stocks to Invest in Now.
Ken Wolter / Shutterstock.com
AT&T Inc. is a Texas-based multinational telecommunications company. The company has capitalized on a recent Verizon price increase to boost its wireless subscriber base. In the second quarter, the company added 479,000 retail postpaid subscribers, including 401,000 new postpaid phone users.
Looking ahead, AT&T Inc. plans to accelerate its fiber expansion, aiming to reach 4 million new locations annually. It recently crossed 30 million fiber locations and is working to double that by 2030. Planned acquisitions will support this growth, including its Gigapower joint venture with BlackRock and partnerships with other open-access network providers.
AT&T Inc. also posted a strong cash position. The company’s operating cash flow was $9.8 billion, and its free cash flow amounted to $4.4 billion. The company distributed just over $2 billion in dividends, with a coverage ratio of 2.2 times. Its quarterly dividend of $0.2775 has remained unchanged since May 2022. The stock has a dividend yield of 4.05%, as of July 29.
READ NEXT: 11 Innovative Dividend Stocks to Buy Now and 10 Best and Safe Dividend Stocks to Buy Now
