Tickers in this Article: ED, CTL, PBI
There are some things that never seem to change. And for investors, that's something to take comfort in. It seems the 'old line' businesses are very often the ones that pay out the best dividends and trade with the securest fundamentals. Here are a number that currently fit the bill perfectly. They include an electric company, a telephone company and a mail outfit that have great yields and even greater fundamentals. And they all belong to that class of businesses one would call 'old line'.

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One of the First
Consolidated Edison (NYSE:ED) is the principal supplier of electricity to New York City. Founded way back in 1823, the company and its subsidiaries also possess gas distribution units that service the greater New York area.

ConEd currently trades with a price-earnings ratio of 12.8 and offers an annual dividend yield of 6.3%.

Two other important metrics are signaling that ConEd is trading at strong value levels. Price-to-book on the shares is 1.05 and price-to-sales is 0.76. Another important item for investors: ConEd is an S&P 'Dividend Aristocrat'. The company has a consistent record of raising dividends for 35 years.

Southern Style Telephone
Century Tel Inc.
(NYSE:CTL) is an old time (founded 1930), Louisiana-based communications company that provides local and long distance voice, internet and broadband services. The company operates in 25 states in the continental U.S. and has just expanded its reach by acquiring Embarq, another mid-sized phone company with assets in a number of similar markets.

The new company will officially trade in 2010 under the name CenturyLink.

CTL shares now trade nearly 50% higher than the lows set back in November of last year and pay a handsome annual dividend of 9.40%. The P/E on the shares is a very reasonable 8.7, and the price-to-sales ratio comes in at 1.16x. Century Tel shares also trade below the company's breakup value at 0.95 (price-to-book).

As Simple as the Mail
Pitney Bowes
(NYSE:PBI), founded in 1920, has been offering businesses unique mail solutions for nearly a century. Equipment, software and supplies that facilitate corporate mail (both electronic and traditional) delivery are at the heart of the company's mission.

Pitney Bowes shares currently yield 6.4% annually and trade with a price-to-sales ratio of just 0.76. The earnings multiple on the stock is 10.9x. PBI stock is up over 25% since hitting 52-week lows back in March.

The Wrap
Old time companies are making a show of it. Between the dividends and the old style fundamentals on offer, the above three named issues are worthy of a peek by any investor interested in value that pays. (To learn more, see How Do I Find Dividend Paying Stocks?)

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