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AT&T: A High Yield Dividend Disaster, Now An ESG Nightmare

publication date: Jul 24, 2023
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Image: AT&T’s shares continue to disappoint. 

We’re not interested in AT&T at all and believe that shares may remain under significant pressure until 1) material top-line growth resumes, 2) the firm’s capital-intensity lessens, 3) free cash flow improves significantly, 4) dividend increases resume 5) its leverage improves and 6) there is more visibility related to the potential contingent liabilities associated with lead-covered cables. We doubt all six of these things will happen, and therefore we believe the best days are likely behind AT&T.


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