(CercleFinance.com) – AT&T announced Friday evening a dividend in WarnerMedia SpinCo shares to carry out the demerger of its stake in WarnerMedia to its shareholders, an operation linked to the proposed merger between WarnerMedia and Discovery scheduled for April.
Immediately after the split, WarnerMedia Spinco shares will be exchanged for shares representing approximately 71% of the new Warner Bros. Discovery (WBD). AT&T shareholders will receive approximately 0.24 WBD shares for each AT&T share.
With the pending transaction on WarnerMedia expected to close in April, AT&T’s board of directors also declared a second quarter cash dividend of $0.2775 per share, payable in May.
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