AT&T Leverage Drops and Free Cash Flow Rises, Keeping Dividend Safe
AT&T says its financial profile has strengthened since 2023, with leverage slipping from 3.0x to about 2.5x by end‑2025 and about 2.7x in the most recent quarter. The company repurchased $5 billion of shares in the first half of the year and expects free cash flow above $18 billion this year, rising past $19 billion next year and above $21 billion by 2028, making the dividend appear safer despite no increase.