If you come across a dividend stock with a yield exceeding 5%, it wouldn't be out of line to question whether its dividend is sustainable. And the higher that yield is, the greater the doubts that you have come across a safe income stock.

It's this truism that likely goes some way toward explaining why investors remain hesitant about AT (NYSE: T) stock. The stock itself trades down about 14% over the past 12 months. That drop in price has helped push its dividend yield up to 6.6%, which is more than 4 times the S 500 average yield of 1.4%.

Is AT's dividend yield too good to be true, or could this be a bargain stock for income investors to buy right now?

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Source Fool.com