By Maria Armental

AT&T Inc. declared a stock dividend in connection to the planned WarnerMedia merger with Discovery Inc.

On the closing date of the transaction, which AT&T said it expects in April, AT&T shareholders will receive an estimated 0.24 share of stock in Warner Bros. Discovery Inc. for each share of AT&T.

The record date for the stock dividend, which AT&T said would be tax free, is currently April 5.

Two-way trading for AT&T stock is expected to begin on April 4. During the two-way trading period, AT&T shareholders also have the option of selling the right to receive WBD shares while retaining their AT&T shares. Those trades will settle after the WarnerMedia-Discovery transaction closes.

 
 Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

March 25, 2022 17:25 ET (21:25 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Discovery (NASDAQ:DISCA)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Discovery Charts.
Discovery (NASDAQ:DISCA)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Discovery Charts.