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Burned by AT&T's Dividend Cut? You May Want to Buy This Rival Instead

·4 min read
Burned by AT&T's Dividend Cut? You May Want to Buy This Rival Instead
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Last week, AT&T (NYSE: T) announced it would be spinning off its WarnerMedia unit and cutting its dividend. Many AT&T shareholders are retirees who likely held the stock for its high dividend, but the new AT&T dividend should only be a little more than half the current payout, likely just under 4% at the stock's current levels. While the new media company could have promise, AT&T's "core" telecom business is up against some stiff competition in the race for 5G.