Top 20 Dividend Stocks of 2024

8. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 59

AT&T Inc. (NYSE:T) is an American telecommunications company that offers a wide range of related services and products to its consumers. In 2022, the company refocused its efforts by merging its WarnerMedia division with Discovery, transitioning away from the media sector to strengthen its telecom operations. Since CEO John Stankey took over in 2020, the company has made notable progress in restructuring and lowering its long-term debt, positioning itself for sustainable growth in the future.

AT&T Inc. (NYSE:T) is now highly focused on investing in digital infrastructure, particularly its mid-band 5G network, which now reaches over 210 million people. This commitment to advanced technology enhances its competitive position and boosts service reliability. Additionally, the company is addressing social issues by working to close the digital divide and offering affordable broadband services to underserved communities. With a 12-month return of over 31%, T is one of the best dividend stocks on our list.

In the third quarter of 2024, AT&T Inc. (NYSE:T) reported revenue of $30.2 billion, reflecting a slight decline of 0.5% year-over-year. Despite challenges such as severe weather and a workforce stoppage in the Southeast, the company marked its 19th consecutive quarter of adding over 200,000 new AT&T Fiber customers. AT&T continues to expand its largest segment, Mobility and is on track to lead the industry in postpaid phone churn for the 13th time in 15 quarters. The company remains committed to making strategic industry investments, reducing debt, and increasing its free cash flow for the year.

AT&T Inc. (NYSE:T)’s cash position also came in strong. In the most recent quarter, the company generated $10.2 billion in operating cash flow and its free cash flow came in at $5.1 billion. The company pays a quarterly dividend of $0.2775 per share and has a dividend yield of 4.91%, as of December 30.