AT&T’s Move to Spin Off WarnerMedia May Disappoint Investors. The Annual Dividend Will Be $1.11.

AT&T‘s decision Tuesday to spin off its stake in WarnerMedia to shareholders isn’t a surprise given recent comments by CEO John Stankey.

 But the move may disappoint investors who were hoping for a split-off, or exchange offer, which would have resulted in the retirement of more than 20% of AT&T‘s shares outstanding.

Shares of AT&T (ticker:…