AT&T Subsidiary Reports Debenture Redemption (T)
Pacific Bell will redeem all the outstanding 6.625% Debentures due on October 15, 2034. The debenture will be redeemed on October 15, 2013 and will be equal to 101.12% of the principal amount.
AT&T expects the payout to be $556 million. This amount includes the principal of $550 million and a call premium of $6 million.
AT&T shares were mostly flat during Wednesday morning trading. The stock has been mostly flat YTD.
The Bottom Line
Shares of AT&T Inc. (T) have a 5.34% yield based on Tuesday’s closing price of $33.69
AT&T Inc. (T) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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