Dividend Aristocrat AT&T (T) reported on Thursday better than expected Q1 result, mainly driven by a boost in smartphone sales and the media business.
AT&T’s wireless division, added 595,000 phone customers, up from 163,000 in the same period in 2020. It also added 207,000 prepaid phone customers. In the Media entertainment unit (warner), revenue rose 9.8% to $8.5 billion.
Revenue for AT&T was up nearly 3% at $43.9 billion, beating analysts average estimate of $42.69 billion. AT&T earned 86 cents per share, above analyst estimates of 78 cents.
The forward dividend is $2.08 ($0.52 quarterly dividend), which results in a dividend yield of 6.90%. AT&T gained 9.46% this year, just underperforming the S&P 500.
Dividend Aristocrat AT&T has now increased its dividend for 35 consecutive years. The last dividend increase was announced in December 2019 from $0.51 to $0.52 per share quarterly dividend. AT&T hasn’t increased its dividend in 2020 and when it raises the payout to $0.53 at the last payment of 2021, AT&T would still be a Dividend Aristocrat (per the official rules), as the payout for the calendar year 2021 would be higher than that for 2020.
AT&T is at the moment of writing the highest dividend yielder as you can see on our dividend aristocrats dashboard.