5 Best Telecom Dividend Stocks to Buy Now
Dividend Yield: 6.1%
China Telecom Corporation Limited (NYSE: CHA) is a Beijing-based telecommunications company that is the largest fixed-line service and the third largest mobile telecommunication provider in China. The firm has a market cap of more than $27 billion and posted more than $60 billion in revenue in December 2020. The dividends of the firm have been steadily rising and reached more than 6% in 2020. The company is ranked fifth on our list of 10 best telecom dividend stocks
At the end of the fourth quarter of 2020, 5 hedge funds out of 887 in the Insider Monkey database held stakes in China Telecom, up from 3 out of 817 in Q3 2020. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies held the most shares – more than 609,000 – worth more than $16 million. LMR Partners was 2nd with 63,120 shares worth almost $1.7 million.
10 Best Telecom Dividend Stocks to Buy Now
The telecommunications sector plays a key role in running governments, businesses, and keeping people connected across the world. The COVID-19 pandemic has highlighted the importance of the telecom sector not only in the global economy but also the everyday life of an average individual. According to the International Telecommunication Union, there were more than 4 billion with access to the internet last year, most of whom were in developing countries. However, the number represents less than half of the world population and efforts are being made to improve access to telecommunications in underprivileged societies.