AT&T: The "Expert" way to play

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Why worry about T dividends when you can buy $KTBA (AT&T/ BellSouth, BBB) 7% '95 in USA: 10% Current Yield, 10% Yield to Maturity, 30% discount to par value, sole underlying *BBB* bond BellSouth 7s '95 Cusip: 079867AP2 is 100ish bid. AT&T has previously tried to buy back entire issue, 3rd parties are trying to steal from retail https://tinyurl.com/3nt74ru4 https://tinyurl.com/ycxdac2x
$KTBA pays .875 on 6/1, 12/1
Expert market, full service brokers only