AT&T 2026 Annual Meeting of Stockholders
The 2026 Annual Meeting of Stockholders of AT&T Inc. was conducted virtually on the Internet on Thursday, May 14, 2026 at 3:30pm Central time. There was no in-person meeting.
Voting Results
The voting results of the Annual Meeting are published below and included in a Form 8-K filed with the Securities and Exchange Commission, which is also available in the investor relations area of our website at www.investors.att.com.
Additional Materials
Annual Meeting Downloads
AT&T Announces Final Voting Results of 2026 Annual Meeting
2026 Notice of Annual Meeting of Stockholders and Proxy Statement
As discussed during our Annual Stockholder Meeting on May 14, we are publishing responses to stockholders’ questions of general interest. There were several topics for which we received multiple questions, and we’ve grouped these responses accordingly.
Please note that for questions related to individual matters, we replied directly to the stockholder, and those responses will not be published here. Please email [email protected] with questions or comments.
Customer Growth
We attract and retain customers by leaning into the strength of our network and the service we offer. After years of industry-leading investment in fiber and 5G, we’ve built a structural advantage and can reach even more customers in more places – reaching over 90 million locations today with advanced internet services.
Because of our scale and owner’s economics, when we complete our work at a fiber location, we believe we're able to offer that customer access to the internet on a lower marginal cost structure than any competitor, with superior performance and an industry-leading experience on America's best and fastest home internet.1 It also positions us to provide the right offers in the right segments – such as AT&T OneConnect, Build-a-Plan and our 55+ offers – while competing on both value and performance.
When our customers choose AT&T for both wireless and internet, they consistently express stronger brand love, higher net promoter scores, and stay with us longer, leading to the customer cohort with the lowest churn and highest lifetime value.
Cricket Wireless and AT&T Prepaid
Our goal is to be the best connectivity provider, able to meet our customers where they’re at. This includes providing a service at a price that fits their needs. Our prepaid brands are among the strongest in the industry, offering millions of customers a great experience at a great value.
Employee Demographics
At AT&T, our purpose is to build a vibrant and sustainable business that connects people to greater possibility. We remain committed to building an inclusive workforce, like a “big tent,” where all generations, backgrounds, ethnicities, and identities, are welcome.
Management Proposals
Details of the Management Proposals voted on are included in the proxy statement.
Dividend
While the Board reexamines the dividend annually, in 2026 we expect to maintain the annualized common dividend at $1.11 per share and share repurchases of approximately $8 billion. In 2025, we returned $12.4 billion through dividends and share repurchases. This was more than a 50% increase from the prior year. AT&T expects to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases.
Macroenvironment and Global Uncertainty
We closely monitor geopolitical and macroeconomic developments. Connectivity remains essential, and customers continue to prioritize reliable service and value. Our strategy is well positioned for this kind of environment, with a focus on value and high-quality, converged customer relationships, which continue to grow at an accelerated rate on an organic basis. As we reported with our first-quarter earnings results, nearly 45% of our organic advanced home internet customers also have wireless.
Net Debt Update
As we shared at our Analyst and Investor Day in December of 2024, at 2.5-times range net debt-to-adjusted EBITDA, our plans would support continued investments in the business, enhanced shareholder returns, and opportunistic use of the balance sheet to further our strategic positioning. We ended the first quarter of 2026 with net debt-to-adjusted EBITDA of 2.71*-times, which is up from 2.53*-times at the end of the fourth quarter last year (2025). This was primarily due to the close of the Lumen transaction, adding over 4 million fiber locations into our footprint.
We expect leverage to temporarily move to 3.2*-times following the closing of the EchoStar spectrum acquisition, and to decline to approximately 3*-times by year-end, with a clear path to return to our 2.5*-times range target within approximately three years of the EchoStar closing.
1Q26 Free Cash Flow
In the first quarter, we reported $2.5* billion in free cash flow (FCF), which is at the high end of the guidance range we provided for the first quarter. The year-over-year decline was driven by higher capital investment as we accelerate the pace of our fiber deployment. We continue to expect $18*+ billion in FCF for the full year.
Customer Service
Our focus is on delivering better outcomes for customers, regardless of where the work is performed, while continuing to enhance service quality and simplicity. We’re evolving how we serve customers by increasing efficiency and quality through digital experiences, leveraging technology and AI, and continuously improving the overall customer experience and service delivery. For example, AT&T expanded the AT&T Guarantee, which is America’s Best Guarantee, to cover AT&T Internet Air and launched a new flagship app to deliver a simple digital-first experience to customers.
1 Based on analysis by Ookla® of Speedtest Intelligence® data, 2H 2025
*Reconciliations between non-GAAP financial measures and the most comparable GAAP financial measures are available on the company’s website at investors.att.com.
Replay of meeting
The 2026 Annual Shareholder Meeting replay is available here.
Cautionary Language Concerning Forward-Looking Statements
1 Information set forth in this document contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T’s filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this document based on new information or otherwise. This document may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company’s website at https://investors.att.com.
Annual Report Downloads
Complete 2025 Annual Report