US telecoms carrier AT&T yesterday announced it will undertake a share buy-back programme worth almost USD16 billion, and its biggest dividend increase so far, the Financial Times reports. The company intends to raise its quarterly dividend by 12.7% from USD0.35 per share to USD0.40 – the largest in the company’s history. Its CEO Randall Stephenson also confirmed his plan to complete a newly authorised buy-back of 400 million shares by the end of 2009. Based on current prices the transaction will be worth USD15.7 billion, or roughly 7% of the company’s current market valuation of more than USD230 billion. Stephenson’s share buy-back programme will replace an earlier one announced last year through which AT&T has already repurchased in excess of USD13 billion of its own stock, the paper said.