Does AT&T Inc. (NYSE:T) Have The Upper Hand?

Posted by Lynn Eisler October 1, 2013 0 Comment 1029 views

AT&T Inc. (NYSE:T) has started the implementation of a 100% fiber Internet broadband network in Austin, delivering up to 1 Gigabit per second speed. The company said it will combine its U-verse with the city’s fastest Internet GigaPower, and start offering it to consumers along with more advanced TV services and features.

Beginning December, AT&T Inc. (NYSE:T)’s U-verse with GigaPower service will initially reach Austin customers as well as in surrounding locations this year. In addition, the deployment will be extended till 2014 covering more neighbourhoods and businesses.

The company also announced the appointment of Dahna Hull to lead its U-verse with GigaPower initiative. In the newly created position of vice president and general manager, Austin, AT&T Services Inc, Hull will be responsible for the overall initiative.

“AT&T Inc. (NYSE:T)’s U-verse with GigaPower complements the company’s three-year Project Velocity IP (VIP) investment plan to expand and enhance its wireless and wireline IP broadband networks to support growing customer demand for high-speed Internet access, advanced TV services, and new mobile and cloud services,” the company said.

As part of the plan, AT&T Inc. (NYSE:T) $21 billion in 2013, and $20 billion each year during 2014 and 2015.

In addition, AT&T Inc. (NYSE:T) announced a quarterly dividend of $0.45 a share on the common shares, representing a $1.80 annualized dividend and a dividend yield of 5.30%. The company will announce its third-quarter 2013 fiscal earnings on October 23, 2013. AT&T last reported its quarterly earnings results in July and posted $0.67 earnings per share on revenue of $32.10 billion for the second quarter.

Last week, the telecom services provider announced the appointment of Beth Mooney to its board of directors. Chairman and CEO of KeyCorp, Mooney will serve on the corporate development and finance committee of AT&T’s board.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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