These 2 stocks paying dividends in August could make you a millionaire

Several companies are set to pay dividends in August, offering an opportunity for income-seeking investors to earn steady returns. 

Notably, some of these companies also boast strong growth fundamentals that could drive their stock prices higher in the years to come.

To this end, Finbold has identified two dividend-paying equities in August that could potentially turn modest investments into millions for patient, long-term investors.

AT&T (NYSE: T)

AT&T (NYSE: T) will pay a dividend of $0.28 per share, offering a yield of 3.84%, to investors who owned the stock before the July 10 ex-dividend date.

After years of costly and unfocused acquisitions, AT&T has refocused on its core wireless and broadband businesses. The company now presents a stronger case as a long-term buy, thanks to improved financials, sharper strategy, and a reliable dividend.

Since 2020, AT&T has shed non-core assets, such as DirecTV and Time Warner, to concentrate on wireless and fiber connectivity, areas where it enjoys scale and strong customer demand. 

This strategic shift has boosted profit margins, steadily increased cash flow, and allowed the company to pay down $45 billion in debt over the past four years. At the same time, AT&T continues to invest heavily in its fiber network to maintain its competitive edge. 

Financially, the company generated over $40 billion in operating cash flow over the past year, comfortably sustaining its quarterly dividend of $0.2775 per share.

As of the latest session, T stock traded at $26.94, down 0.19% on the day but up 18% year-to-date.

Verizon (NYSE: VZ)

Verizon (NYSE: VZ) is also paying a dividend on August 1, with a payout of $0.68 per share, representing a 6.26% yield, to shareholders of record before July 10. This generous payout has long been one of Verizon’s most significant benefits.

As of press time, VZ stock was trading at $40.84, down 0.27% on the day but up about 1.5% year-to-date.

For investors, Verizon continues to innovate in key growth areas, bolstering its long-term outlook. The company has expanded its 5G portfolio with flexible wireless and broadband bundles, capitalizing on the growing demand for premium plans and streaming services.

Verizon has also scored notable strategic wins, including a multibillion-dollar private 5G network contract in the UK’s River Thames Estuary, and the nationwide launch of a dedicated 5G network slice for first responders, underscoring its competitive edge and potential for new revenue streams.

Emerging technologies such as the Edge Transportation Exchange, a platform for connected vehicles, further position Verizon as a leader in 5G-driven opportunities in both business and public safety.

While challenges like high capital spending, aggressive promotions, and competitive pressure continue to weigh on margins, Verizon’s scale, innovation, and customer-focused strategy should reassure investors of its long-term stability.

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