Telecom giants AT&T (T) and Verizon Communications (VZ) are prime examples of this phenomenon. Both companies have seen a sharp decline in their share prices in 2023 over concerns over their debt-laden balance sheets, the emergence of leaner competitors, and a less-than-stellar macroeconomic outlook. As a result of this steady decline, AT&T's stock now pays out an annualized yield of 7.12%. Similarly, Verizon's yield has ballooned to 7.28% this year.
Source: Motley Fool
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