SBC Communications Reaffirms Guidance

SBC Communications (SBC Quote) reaffirmed its guidance for 2002 and said it would consider raising its dividend or buying back stock in the future.

Chairman and Chief Executive Ed Whitacre made the statements at a meeting with analysts in New York on Thursday. He said that while the company would consider a stock repurchase or a dividend increase "we don't think it's timely at this point to make any pronouncements on that."

At least one analyst wasn't surprised by SBC's announcement. "The company typically returns about 70% of its excess cash to shareholders," said John Hodulik, an analyst at UBS Warburg. "They said there may be room to increase that number." ...