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CenturyLink (NYSE: CTL) investors may be feeling a bit of deja vu. In early 2019, after repeatedly reassuring investors that the company's huge dividend was safe, management decided to cut the payout by more than 50%. The plan was to reduce dividend payments to focus on paying down debt, according to management.
Today, CenturyLink's yield has climbed to more than 9%, due to the stock's weak year-to-date performance. The question is, should investors count on this huge yield, or will this be like 2019 all over again?