Is AT&T Still a Top High-Yield Dividend Stock?

High-yield dividend stocks often rally in response to interest-rate cuts. This relationship stems from investors seeking higher returns as yields on fixed-income securities decline.

With the Federal Reserve expected to enter a long-tailed rate-cutting cycle, dividend-paying stocks with yields above the 3% mark are under the spotlight. For instance, AT&T (NYSE: T), a longtime favorite among income investors, has seen its stock surge approximately 30% year to date, outpacing the benchmark S&P 500.