Jerry Braakman, Chief Investment Officer, stated “AT&T looked like their strategy was struggling, so we decided not to continue to ride something down.” First American Trust held AT&T shares for many years but sold them over a year ago in December 2020. Currently, there is a lot of uncertainty about AT&T, especially with their May 2020 announcement to spin off Warner Media in order to focus on growth from wireless and broadband services. These changes are expected to pay shareholders a lower annual dividend.
Read more about AT&T, their future plans, and how its shareholders are reacting.
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