Verizon and AT&T are big dividend, low volatility, stocks that are exposing themselves to new risks as their business models evolve. Yahoo recently announced it is considering a sale of its core business, and if Verizon or AT&T were to acquire it (which they might), they’d cut its costs to the bone just to feed their big dividends.  Verizon and AT&T shareholders should be aware of potential dividend policy changes and price return differences as the companies take on new risks.