It's never a good sign when a big dividend gets cut, and it's even worse when it disappears entirely. For shareholders of Spanish telecom company Telefonica, that's exactly what happened recently. The company announced it would suspend its dividend until late next year as it focuses on shoring up a heavily leveraged balance sheet plagued by tons of acquisition-related debt. In the following video, Brenton and Austin discuss the move, and why this is a cut that made sense for shareholders taking the long view.

If you're on a quest for high-yielding stocks, The Motley Fool has compiled a special free report outlining our nine top dependable dividend-paying stocks. It's called  "Secure Your Future With 9 Rock-Solid Dividend Stocks." You can access your complimentary copy today at no cost! Just click here to discover the winners we've picked.

Brenton Flynn has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.