Both legacy telcos have a long history of paying dividends.AT&T (T 0.71%) and Verizon (VZ 1.28%) have been popular income stocks for decades. Both emerged in the era of landlines, supporting dividends through stable businesses. Even as AT&T and Verizon pivoted into wireless and broadband internet services, they increased their payouts over time.However, staying competitive against one another and the rising threat of T-Mobile left both companies with massive debt loads. That obligation led to AT&T slashing ...