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CenturyLink's (CTL +2.4%) dividend (current yield of 6%) is sustainable, declares JPMorgan's...

CenturyLink's (CTL +2.4%) dividend (current yield of 6%) is sustainable, declares JPMorgan's Philip Cusick while upgrading shares to Buy - CenturyLink crashed in Feb. after cutting its dividend by over 25%. Cusick notes the telco's yield remains higher than Verizon and AT&T's, and believes it has been making good use of its $2B buyback plan. The upgrade comes as rural telcos try to take advantage of FCC chairman Julius Genachowski's pending departure to get Congress to implement a "time out" for the FCC's Universal Service Fund reforms.
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