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That brings us to the aforementioned Verizon. While Verizon doesn't own its entire network, the firm is no slouch when it comes to scale. Close to 100 million users sit on Verizon's network, giving the firm major cost advantages that pay for things like tower infrastructure improvements. Like AT&T, Verizon also owns a lucrative fixed-line business, which serves residential and business customers across the country.

The introduction of FiOS internet, TV, and phone service has been a costly project for VZ, but it's one that should pay off in spades in the long-term. Because FiOS has higher capacity than traditional coaxial cable, customers are drawn to the new features that the fiber optic cable can support. Impressive cash generation should mean that the firm can continue to pay off significant debt while it shells out dividends.

Verizon's dividend currently yields 5.09%, making it the No.2 Dog of the Dow.

Verizon shows up on a list of Telecom Stocks Bought and Sold by Hedge Funds in the most recently reported quarter and is one of the Top 10 Dividend Stocsk to Own Until Retirement.

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