AT&T (NYSE: T) has something income-focused investors covet: a sizable dividend. The telecommunication leader's shares currently yield a hefty 6%, placing it among the highest-yielding stocks in the market.

But there's more to a great investment than just a large cash payout. Here's what makes AT&T a great buy today.

After an unfruitful attempt to branch out into media and entertainment, AT&T has worked to streamline its operations. A divestiture of its Warner Media assets in April has allowed the telecom giant to place a greater emphasis on its core wireless and broadband internet businesses. Those efforts are already paying off for shareholders.

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Source Fool.com