In his latest shareholder update, AT&T (NYSE:T) Chief Financial Officer John Stephens says the company expects to reach nationwide 5G coverage this summer.
Speaking at the Credit Suisse Communications Conference, Stephens said the 5G network covered 120M at the end of Q1, and covers more than 160M people in 327 markets today.
He also added that the company has passed 80% completion of its planned FirstNet build, and had 1.3M subscribers across more than 12,000 agencies at the end of Q1.
COVID-19 visibility is still limited, but Stephens says AT&T maintains confidence in its ability to generate cash.
That brought him to reassurances that "continued transformation and cost savings" allow AT&T to maintain its commitment to the dividend while investing (in 5G, fiber and HBO Max) and reducing debt.
The company's expecting the dividend payout ratio to be in the 60% range for the full year.