AT&T: A Wonderful Case For Dividend Investors

LindaJoHeilman/iStock Editorial via Getty Images December last year, I issued a bull thesis on AT&T Inc. (NYSE:T) arguing that the then-current dividend as well as the overall investment case from a total return perspective seem attractive enough to warrant a buy. There were three fundamental drivers behind this:  Depressed multiples at levels that are characteristic for companies with inherently volatile cash flows. Improving free cash flow generation due to a more balanced CapEx agenda in combination  ...