AT&T slashes dividend, warns
--4:55 pm - By William L. Watts
AT&T (T: news, msgs) moved after the close Wednesday to slash its annual
dividend and warned that fourth quarter revenues would fall below
expectations. Ma Bell said it was cutting its quarterly dividend to 3.75 cents a
share from the previous level of 22 cents a share to bring its dividend policy in
line with its peers. The company said top line revenue is expected to grow
between 2.5% to 3% in the fourth quarter, compared to previous guidance of
4% to 5%.
