AT&T's Dividend Costs the Company a Fixed Amount Every Quarter Regardless of Competitive Pressure From Starlink or Cable Rivals. Here's the Coverage Ratio That Actually Determines Whether It's Safe.

AT&T maintains a sustainable 4.4% dividend yield despite competitive pressures from cable operators and Starlink. With a 36% trailing payout ratio and 45% cash dividend payout ratio, the company has ample coverage to support its ~$2 billion quarterly dividend. Share buybacks have actually strengthened the dividend's footing, reducing dividend outlays year-over-year despite competitive threats.