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AT&T sets 3-for-2 split
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March 17, 1999: 1:59 p.m. ET
Shares payable April 15 to stock of record March 31; Malone named to board
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NEW YORK (CNNfn) - AT&T Corp. Wednesday declared a 3-for-2 stock split, payable April 15 to common shareowners of record March 31.
Including the shareholders inherited from its recent acquisition of cable giant Tele-Communications Inc. (TCI), AT&T (T) currently has 2.1 billion shares outstanding, according to company spokeswoman Eileen Connolly.
The company made the announcement at the same time it declared its regular first-quarter dividend of 33 cents per share.
AT&T said former TCI group Series A and TCI Group Series B common stock shareholders who are still holders of record March 31 will be entitled to the first-quarter cash dividend and the stock split shares.
Soon after the news was announced, shares in the telecommunications services company moved up 1-1/16 to 83-1/2 in early afternoon trading on the New York Stock Exchange.
Malone to join board
AT&T also said Wednesday John Malone was formally elected to its board of directors. Malone is chairman of Liberty Media Group, TCI's cable programming arm that also was purchased by AT&T. 
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AT&T
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