AT&T Declares Stock Dividend to Effect Spin-Off of WarnerMedia Interest
March 25 2022 - 5:40PM
Dow Jones News
By Maria Armental
AT&T Inc. declared a stock dividend in connection to the
planned WarnerMedia merger with Discovery Inc.
On the closing date of the transaction, which AT&T said it
expects in April, AT&T shareholders will receive an estimated
0.24 share of stock in Warner Bros. Discovery Inc. for each share
of AT&T.
The record date for the stock dividend, which AT&T said
would be tax free, is currently April 5.
Two-way trading for AT&T stock is expected to begin on April
4. During the two-way trading period, AT&T shareholders also
have the option of selling the right to receive WBD shares while
retaining their AT&T shares. Those trades will settle after the
WarnerMedia-Discovery transaction closes.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
March 25, 2022 17:25 ET (21:25 GMT)
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