High Yielding Verizon Maintains Dividend Level

High yielding Dow component Verizon Communiciations [[VZ]] announced yesterday that they are maintaining their quarterly dividend of $.46 per share.


Verizon’s current dividend yield now stands at 6.2%.


The dividend will be payable on August 3, 2009 to shareholders of record as of July 10, 2009.


Verizon is currently the second-highest yielding dividend stock in the Dow Jones industrial average. Last year, VZ paid dividends totaling $5 billion. At Verizon’s current dividend payout levels, they will pay out over $5.1 billion in dividends in 2009.


Since the beginning of the year, Verizon’s shares are down more than 13% while the Dow Jones index is essentially flat in 2009. In 2008, Verizon outperformed the Dow’s 34% drop, but declining only 22%.


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