Board of AT&T Inc. (T) Friday authorized the repurchase of up to 300 million additional shares, representing about 5 percent of AT&T shares outstanding, with no expiration date.
This authorization is in addition to the 300 million share repurchase authorization approved by the Board of Directors in December 2010.
"This action allows us to continue returning cash to our shareholders through dividends and buybacks while maintaining a strong balance sheet and investing in the future of our business," said Randall Stephenson, AT&T chairman and chief executive officer.
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