AT&T Dividend Offers 4.6% Yield

AT&T Inc. T said its board declared a quarterly cash dividend of $0.48 a share on the company's common shares. On an annualized basis, this works out to $1.92 a share. The current dividend provided a yield of 4.6 percent.

AT&T said the dividend is payable on August 1, 2016, to stockholders of record at the close of business on July 8, 2016.

For 11 straight years, the telecom service provider has been boosting its dividend rate. As a result its average dividend growth rate was 2.25 percent while it was 2.2 percent for the three-year period.

The company's payout ratio is approximately 81.0 percent.

On Thursday, the stock shed 0.47 percent.