9% Yield, Good Dividend Coverage

This stock yields 9.48%, with a 32% Free Cash Flow Dividend Payout Ratio. It just reported Q2 earnings this, which were impacted by currency exchange and the end of CAF II subsidies. Management reiterated 2022 guidance for maintaining a $0.25 quarterly dividend.

Like many other traditional telecoms, Lumen Technologies, Inc. (NYSE:LUMN) has been moving into other business offerings over the past few years in order to fight the attrition associated with traditional landline service. Management has expanded fiber optics, multi-gig services, and other architectures at an accelerated pace, which it sees as positioning LUMN for growth coming from Virtual Reality, AR, gaming, work and learn from home, and other high-bandwidth services.

Source: Seeking Alpha

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