Verizon Makes a $3.3 Billion Deal to Help Protect Its Towering Dividend

Verizon is bringing in some cash to help pay for its pending Frontier Communications acquisition.Verizon (VZ 0.04%) pays a towering dividend. The telecom giant's payout yields more than 6%, making it the highest-yielding member of the Dow Jones Industrial Average (and a top-10 payer in the S&P 500). One factor driving its elevated yield is concerns that the company's hefty debt level might impact its ability to sustain that payout over the long term. The company's debt is on track to balloon further after i ...