AT&T's Stock Ticks Higher After Dividend Increase

AT&T Inc.'s stock inched higher 0.1% in afternoon trade Friday, after the telecommunications giant raised its quarterly dividend by 2% to 47 cents a share. The new dividend will be paid on Feb. 2, 2015 to shareholders of record as of Jan. 9. On an annual basis, the new dividend represents a yield of 5.6% on the stock, based on current prices. "Returning value to our shareholders is a top priority and we're pleased that this is the 31st straight year we've increased our quarterly dividend," said Chief Executive Randall Stephenson. The stock, a component of the Dow Jones Industrial Average, has declined 4.7% this year, while the Dow has gained 7.4%.