This High Yielding Stock Shares A Sector With FAANG Stocks Like Netflix, But Outperforms In This Characteristic

As the communication services sector has been lagging behind the S&P 500 since October 2021, it makes for an interesting case to find undervalued stocks that have been beaten up by the volatile market in this sector. Here is one dividend stock in the communications sector that is down 1.91% over the past twelve months.

Also Read: Short Interest Sector Focus: Communication Services Sector

BCE Inc (NYSE: BCE) is offering a dividend yield of 5.70% or $2.86 per share annually, making quarterly payments. BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. As of 2021, BCE is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market.

In the second quarter of 2022, BCE saw adjusted net earnings increase by 5.3% year-over-year, while free cash flow increased by 7.1% or roughly $1.3 billion from the previous year.