CTL - 9.1%-Yielding CenturyLink Changes Its Name to Lumen: What It Means for Investors
Many dividend investors have suffered from the underperformance of CenturyLink (NYSE: CTL) over recent years. Despite the company's sky-high payout, currently yielding around 9.1%, the company's share price has trended down over the years, badly trailing the overall market, especially other high-flying technology companies.
Management apparently believes at least some of the investor pessimism may be due to the CenturyLink brand name, so the company has decided to change it to Lumen. Effective Sept. 18, the Lumen name will go into effect, and CenturyLink's stock ticker will change from CTL to LUMN. But will the rebrand work?
CentuyLink is changing its name to Lumen. Image source: Getty Images.