December 13, 2018

AT&T Increases Quarterly Dividend 2 Percent

Quarterly Dividend Increases for the 35^th Consecutive Year, Reflecting Strong Cash Flows and Confidence for 2019

The board of directors of AT&T Inc.* (NYSE: T) has approved a 2.0% increase in the company’s quarterly dividend.

AT&T’s quarterly dividend will increase from $0.50 to $0.51 per share. The annual dividend will increase from $2.00 to $2.04 per share.

“Our healthy cash flows and strong outlook for 2019 give us the confidence to raise our dividend for the 35^th consecutive year. The dividend is an important way we provide value to our shareholders, and I’m proud that we are able to continue our history of annual increases,” said Randall Stephenson, chairman and CEO, AT&T Inc.

The dividend is payable on Feb. 1, 2019, to stockholders of record at the close of business on Jan. 10, 2019.

*About AT&T

AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. It executes in the market under four operating units. WarnerMedia’s HBO, Turner and Warner Bros. divisions are world leaders in creating premium content, operate one of the world’s largest TV and film studios, and own a world-class library of entertainment. AT&T Communications provides more than 100 million U.S. consumers with entertainment and communications experiences across TV, mobile and broadband services. Plus, it serves more than 3 million business customers with high-speed, highly secure connectivity and smart solutions. AT&T Latin America provides pay-TV services across 11 countries and territories in Latin America and the Caribbean, and is the fastest growing wireless provider in Mexico, serving consumers and businesses. Xandr provides marketers with innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its AppNexus platform.

AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information is available at about.att.com. © 2018 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

Cautionary Language Concerning Forward-Looking Statements

Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T’s filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.

This news release may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company’s website at https://investors.att.com.

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AT&T Increases Quarterly Dividend 2 Percent

Cautionary Language Concerning Forward-Looking Statements

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