March 11, 2020 / 2:54 AM / in 18 days

BRIEF-AT&T CFO Stephens Says Co's Supply Chain Not Significantly Impacted At This Point Due To Coronavirus

March 10 (Reuters) - AT&T Inc:

* AT&T SENIOR EXECUTIVE VICE PRESIDENT AND CFO JOHN STEPHENS UPDATES SHAREHOLDERS

* AT&T - CFO JOHN STEPHENS SAYS CO HASN’T SEEN SIGNIFICANT IMPACT IN ITS SUPPLY CHAIN AT THIS POINT DUE TO CORONAVIRUS

* WILL ALSO CONTINUE TO RETIRE DEBT WITH GOAL OF A NET DEBT-TO-ADJUSTED EBITDA RATIO IN 2.0X TO 2.25X RANGE BY END OF 2022

* CFO JOHN STEPHENS SAYS UNDER EACH OF TWO OUTSTANDING ACCELERATED SHARE REPURCHASE AGREEMENTS, CO WILL RETIRE $4 BILLION OF ITS COMMON STOCK

* CFO JOHN STEPHENS SAYS RECENT ADDITION OF PREFERRED EQUITY TO ITS CAPITAL STRUCTURE HAS BEEN WELL RECEIVED

* TWO ASRS, COMBINED WITH OPEN MARKET REPURCHASES, EXPECTED TO BRING TOTAL COMMON SHARES RETIRED IN 2020 TO MORE THAN 250 MILLION THROUGH APRIL

* CO HAS VERY HIGH EXPECTATIONS FOR HBO MAX, INCLUDING POSSIBILITY OF INCREASING ADOPTION OF HIGHER ARPU SERVICES Source text for Eikon: Further company coverage:

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