Telecom stocks, with their recurring subscription revenue from mobile and broadband, have long been favoured as stable dividend payers. It comes as no surprise, then, that income-focused investors may have a telecom stock or two in their portfolio. While most focus on earnings generation to determine dividend sustainability, we think dividend-focused investors should pay more attention to free cash flow (FCF) generation instead. After all, earnings can be impacted by non-cash items, while FCF is the tangibl ...