CenturyLink and Its High-Yield Dividend Are on Solid Footing After Q3 2019
2019 hasn't been the greatest of years for CenturyLink (NYSE: CTL). The communications company's stock is down 9% year to date as of this writing as sales continue to decline, and a dividend cut after 2018 results were reported didn't get things off to a good start either. As for a long-awaited rebound, not much changed during the third quarter.
Nevertheless, things could be a lot worse, and the new dividend payment (currently yielding 7.7%) is manageable. As far as income stocks go, CenturyLink is doing just fine for the time being.
CenturyLink's revenues were $5.61 billion in Q3, a 4% decline year over year. The flagging consumer business and other legacy products like landline, old internet connection service, and cable TV led the declines. However, sales were up 1% sequentially from the second quarter as the company's investments in its enterprise solutions segment yielded results (more on that in a minute). Enterprise, now CenturyLink's largest reportable segment, grew 3% year over year and quarter over quarter to $1.55 billion.
Source Fool.com
