T-Mobile US shares took a hit Wednesday, even after the wireless-communications company approved a new $19 billion shareholder-return program through 2024.
Shares of T-Mobile US Inc. took a hit Wednesday, even after the Washington-based wireless-communications company said it approved a $19 billion shareholder-return program to run through 2024 that includes both stock buybacks and dividends.
Still, the stock TMUS, -2.62% dropped 2.7% in afternoon trading. It underperformed its peers and the broader stock market, as the Communication Services Select Sector SPDR exchange-traded fund XLC slipped 0.4% and the S&P 500 SPX fell 0.7%. For 2024, the company plans to pay quarterly dividends totaling $3 billion, with per-share dividends then expected to grow by about 10% a year.
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