‘Never reach for income’ — Cramer says buy Verizon despite AT&T's higher dividend yield

Hans Vestberg, chief executive officer of Verizon Communications Inc., gestures as he speaks during a keynote session at the 2019 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Tuesday, Jan. 8, 2019.
David Paul Morris | Bloomberg | Getty Images

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Investors who are looking to buy stocks with quality dividends should look to Verizon instead of its rival AT&T, even though AT&T's dividend yield is higher, CNBC's Jim Cramer said Wednesday.

"Buy Verizon," Cramer said on "Squawk on the Street," saying Verizon's dividend yield of around 4.4% indicates more stability. The stock is "kind of like a bond with a kicker, I don't want people in something that ... is risky."

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