AT&T Increases Repurchase Authorization By an Additional 300 Million Shares

AT&T's (NYSE: T) Board of Directors authorized Friday the repurchase of up to 300 million additional shares, representing approximately 5 percent of AT&T shares outstanding, with no expiration date. This authorization is in addition to the 300 million share repurchase authorization approved by the Board of Directors in December 2010.

“This action allows us to continue returning cash to our shareholders through dividends and buybacks while maintaining a strong balance sheet and investing in the future of our business,” said Randall Stephenson, AT&T chairman and chief executive officer.

Under the December 2010 authorization, AT&T had repurchased 143.5 million of its shares for about $4.6 billion through June 30, 2012. Including dividends, the company returned nearly $10 billion to shareholders in the first half of 2012.

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