AT&T management is guiding for double-digit annual earnings growth through 2028. The main driver is their fiber-optic broadband business, which includes assets acquired from Lumen. They expect to reach 40 million customer locations by year-end, a 25% increase. Currently, they convert about 40% of serviceable homes into paying customers at roughly $73/month. The CFO projects 2026 EPS between $2.25 and $2.35. With a payout ratio near 50%, the dividend seems secure and might see increases again down the line.