Is there anything that Telstra Corporation Ltd (ASX: TLS) can't do right?
It has today rallied a further 1.2% to record a new 14-year high at $6.42, extending its gain over the last 12 months to a remarkable 26%. When you also include the 29.5 cents distributed to shareholders in dividends, the stock has handily outperformed the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and various other blue chip stocks.
Perhaps it shouldn't come as a surprise that the stock continues to go from strength to strength, given the low interest rate environment. As reported by Fairfax media, Charlie Aitken of Bell Potter Securities believes the company could up its dividend to 32 cents per share this financial year which would put it on a yield of 5%, fully franked. Grossed up, that's a yield of 7.1%!
While Telstra could certainly continue to climb higher, our top analysts believe there is an even better dividend stock to buy right now.
