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Broadband Briefs for 12/21/09

Mon, 12/21/2009 - 7:00am

• AT&T ups dividend, but lowest increase since 2001
By The Associated Press

DALLAS (AP) – AT&T Inc. said Friday that it was raising its quarterly dividend by 2.4 percent, continuing an unbroken record of increases for 26 years, although it's the smallest percentage hike since the 2001 recession.

AT&T is raising its quarterly dividend by a penny to 42 cents per share, or to $1.68 from $1.64 per share annually. The dividend is payable on Feb. 1 to common shareholders of record on Jan. 8.

In 2001, the phone company raised its quarterly dividend by 1 percent to 25.625 cents per share. Since then, the highest quarterly dividend increase was in 2008, with an increase of 12.7 percent to 40 cents per share.

In the third quarter, AT&T's earnings fell by 1.2 percent to $3.19 billion, or 54 cents per share. Revenue fell, as well, by 1.6 percent to $30.9 billion. Shares of AT&T, based in Dallas, were up 10 cents to $27.32 on Friday.

• Qwest secures new $1.04B revolving credit facility
By The Associated Press

DENVER (AP) – Qwest Communications International Inc. said Monday that it secured a new $1.04 billion revolving credit facility. The new agreement will expire Sept. 30, 2013. It replaces an existing revolving credit agreement that was to expire Oct. 21.

The phone company said that it has not yet drawn on the agreement, and if it does it will use proceeds for general corporate purposes such as working capital, capital expenditures and debt refinancing.

Wachovia Bank, National Association is the administrative agent for the new agreement. Qwest shares rose 13 cents, or 3.1 percent, to $4.37.

More Broadband Direct 12/21/09:
•  MPEGIF launches '3-D over MPEG' campaign
•  DirecTV asks FCC not to include its boxes in retail
•  Verizon Wireless to FCC: Smartphones more costly
•  Limelight Networks buys EyeWonder for $110M
•  Netflix sued for violating privacy laws
•  Future TV the focus of Master Class at CES
•  Maine to consider cell phone cancer warning
•  Broadband Briefs for 12/21/09
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