March 10 (Reuters) – AT&T Inc:
* AT&T SENIOR EXECUTIVE VICE PRESIDENT AND CFO JOHN STEPHENS UPDATES SHAREHOLDERS
* AT&T – CFO JOHN STEPHENS SAYS CO HASN’T SEEN SIGNIFICANT IMPACT IN ITS SUPPLY CHAIN AT THIS POINT DUE TO CORONAVIRUS
* WILL ALSO CONTINUE TO RETIRE DEBT WITH GOAL OF A NET DEBT-TO-ADJUSTED EBITDA RATIO IN 2.0X TO 2.25X RANGE BY END OF 2022
* CFO JOHN STEPHENS SAYS UNDER EACH OF TWO OUTSTANDING ACCELERATED SHARE REPURCHASE AGREEMENTS, CO WILL RETIRE $4 BILLION OF ITS COMMON STOCK
* CFO JOHN STEPHENS SAYS RECENT ADDITION OF PREFERRED EQUITY TO ITS CAPITAL STRUCTURE HAS BEEN WELL RECEIVED
* TWO ASRS, COMBINED WITH OPEN MARKET REPURCHASES, EXPECTED TO BRING TOTAL COMMON SHARES RETIRED IN 2020 TO MORE THAN 250 MILLION THROUGH APRIL
* CO HAS VERY HIGH EXPECTATIONS FOR HBO MAX, INCLUDING POSSIBILITY OF INCREASING ADOPTION OF HIGHER ARPU SERVICES Source text for Eikon: Further company coverage:
