Many of the top tech companies spoke out against the FCC plan to repeal net neutrality on December 14. Companies like Alphabet Inc., Facebook Inc., and others have been outspoken proponents of a “free and open internet”. However, in spite of public reaction, in all likelihood the repeal will go through when it is held to a vote on December 14. It is expected to pass with a 3-to-2 margin.
AT&T Inc. (NYSE:T), an American multinational telecommunications company, has been less enthusiastic about net neutrality. Its proposed merger with Time Warner Inc. is facing stiff resistance from the U.S. Department of Justice, so this comes as a mixed bit of news.
AT&T has spoken out against net neutrality regulations on its website. One of the concerns for proponents of net neutrality is that broadband providers like AT&T will be able to slow or block specific content. This is while telecom companies are making significant acquisitions and producing original content to compete with streaming services. In any case, AT&T boasts a dividend of $0.49 per share representing a 5.6% dividend yield.
Verizon Communications Inc. (NYSE:VZ) has also delivered lukewarm criticism of net neutrality and has pushed back against the idea that the Internet should be considered a utility. Its stock has increased 2.5% since news that the repeal was going forward hit. The stock offers a dividend of $0.59 per share representing a 4.9% dividend yield.