Consolidated Communications (CNSL) is set to release its first quarter earnings on Thursday. The telecom company is one year removed from its sudden decision to suspend dividends and focus on deleveraging. If income investors were to stray away from this company, they would be missing out on an opportunity to invest in the company’s 2022 maturing bonds, which are currently yielding over 10.5% to maturity.
Source: FINRA
Despite the dividend cut, Consolidated Communications has been generating a healthy amount of free cash flow. The company’s $107 million in free cash flow in 2019