AT&T sets WarnerMedia spinoff plan and lowers its dividend

AT&T Inc. said it would roughly halve its dividend payout and divest itself of its WarnerMedia division through a spinoff that would give shareholders 0.24 share for each AT&T share they own, a move that would complete its retreat from the entertainment business.


What is a dividend?

Periodic payouts are one of the ways publicly-traded companies share their profits with investors.