Telecom companies have a long history of paying out healthy dividends. In fact, with an average dividend yield of almost 5%, telecom is the highest yielding sector in the S&P 500, according to S&P Dow Jones Indicies.

Under current law, the top tax rate is 15% on qualified dividend and long-term capital gains. While Obama would start taxing dividends at ordinary income tax rates, Romney would exempt dividends from taxes.

That's why analysts expect a Romney win would boost the overall sector and relieve investors who hold stakes in companies like AT&T (T, Fortune 500), Verizon (VZ, Fortune 500), Windstream (WIN) and CenturyLink (CTL, Fortune 500), which pay dividends of 4% to 9%.

A Republican victory would also likely support telecom mergers, such as the rejected AT&T and T-Mobile deal, said Sam Stovall, chief equity strategist at S&P Capital IQ. That could benefit companies like MetroPCS (PCS, Fortune 500) and Leap Wireless (LEAP), which have been rumored to be takeover targets.

  @CNNMoneyInvest - Last updated September 24 2012 07:51 AM ET
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Best stocks to own if you're betting on Obama

The presidential election is less than two months away, and the race is tight. But if you think President Obama will be re-elected, consider investing in these five sectors.

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