Article by Moneywise:
Telecommunications giant AT&T (NYSE:T) is on this list because the need for broadband and wireless data is rock-solid. The company has significant market share in America, which gives it clear economies of scale. And given its investments in 5G and fiber optics, the company stands to benefit from the Biden Administration’s new $42 billion plan to make internet access universal in every U.S. state and territory by 2030 under the Broadband Equity Access and Deployment Program.
AT&T expects to generate over $16 billion in free cash flow this year, which would help underwrite the firm’s hefty 7.4% dividend yield, which is far higher than that of most blue chip stocks at the moment.