AT&T: The Dividend Is As Solid As It Gets

AT&T's strong operating margins and robust free cash flow underpin a bullish investment thesis, supporting a well-covered and attractive 4% dividend yield. Despite missing fiber net add estimates, AT&T's fiber expansion and stable profit margins position it for continued growth and upside potential. The company is investing heavily in broadband, expects $16B+ in free cash flow, and maintains a conservative 50% dividend payout ratio.