This Blue Chip Stock Yields 8.4%... But I Doubt You've Ever Heard Of It

This Blue Chip Stock Yields 8.4%... But I Doubt You've Ever Heard Of It

With interest rates near 0% and traditional income investments like savings accounts and certificates of deposits (CDs) earning next to nothing, blue chip telecom stocks like AT&T (NYSE: T) and Verizon (NYSE: VZ) have become wildly popular.

That makes sense. Telecom is a "recession-proof" industry. Regardless of what's happening with the economy, people will still need cell phones and cable TV. And with both stocks yielding close to 4.5%, both companies look like a good choice for income investors in search of high yields.

But there's a problem. As with a lot of American blue chips, these...