Telecom giant (NYSE: T) has a very simple story now that it's shed its ambitions to become a media conglomerate. The core business is wireless, which will grow slowly at best. The secondary business is fiber internet, which is now growing quickly enough to offset declining revenue from legacy infrastructure.

AT's growth will impress no one, but the company is a cash machine that pays a generous, sustainable dividend. Dividends are important for long-term investors. Since 1960, nearly 70% of the total return of the S 500 index was driven by reinvested dividends. Quick capital gains are great, but dividends are the key to successful investing over decades.

AT ended 2022 with 217.4 million wireless subscriptions, including 69.6 million postpaid phone subscribers, 19.2 million prepaid subscribers, 6 million reseller subscribers, and 107.5 million connected devices. The company gained 2.9 million net postpaid phone subscribers in 2022, adding to a 3.2 million boost in 2021.

Continue reading

Source Fool.com