Richelle Elberg

Alteva: A Double-Digit Dividend Yield, Growth And A Cheap Valuation

These days investors in the telecommunications industry are leery of overly strong dividend yields - and with good reason. There have been numerous examples of dividend cuts or even elimination in the industry - most recently, CenturyLink (NYSE:CTL) investors got slammed with a 23% decline in share price after the company announced a 26% reduction to its dividend. But there's one (formerly) old school telecom company out there which is yielding 12% right now, and I believe its dividend is safe for at least this year. It's also trading at a very cheap valuation given its potential growth profile.

The newly dubbed Alteva (NYSEMKT:ALTV), formerly known as Warwick Valley Telephone Company, is really three businesses in...

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