AT&T Subsidiary Reports Debenture Redemption (T)

AT&T Subsidiary Reports Debenture Redemption (T)

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On Wednesday, subsidiary of communications company AT&T Inc. (T), Pacific Bell Telephone Company, announced a debenture redemption with Bank of New York Mellon (BK).

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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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