AT&T Raises Dividend by only 1 cent...again

From Dow Jones: AT&T Inc.'s (T) board raised the telecommunications heavyweight's quarterly dividend a penny a share, or 2.3%, marking the 28th straight year of increases.
AT&T increased the dividend to 44 cents a share, with the increase costing roughly $59.3 million each payout. The company had $10.76 billion in cash and cash equivalents on its balance sheet at the end of the third quarter.
Chairman and Chief Executive Randall Stephenson said the company's financial discipline throughout the economic downturn has allowed it to pay down debt, invest to support more customer usage and generate strong cash flows.
"We know millions of our owners are individuals and they count on their AT&T dividend each quarter," he said.
Many companies have bolstered dividends lately, some to put accumulated cash to work, others to appeal to investors wearied by market volatility.
AT&T most recently reported higher third-quarter earnings driven by better-than-expected growth in wireless subscriptions.
AT&T shares were down 6 cents at $28.73 in recent trading.