American Tower offers a safe 3.7% dividend yield backed by strong leases and improving leverage.

American Tower (AMT) currently yields 3.71%, supported by long-term leases and a healthy AFFO payout ratio of about 65%, indicating dividend safety. The company paused dividend growth in 2023 but resumed increases in 2024, with management confident about future demand driven by mobile data, cloud, and AI growth. Leverage has improved to a target range with net debt to EBITDA at 4.9x, and strong free cash flow coverage supports dividend payments. Retirees seeking steady income may find AMT appealing, though caution is advised if tower revenue declines persist or leverage rises above 5x.