High Yielding Verizon Inches Dividend Higher
- September 2, 2010
- Dividend Aristocrats, Dividend News, Dividend Stocks, High Yield Dividend Stocks
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Verizon Communications (VZ: 37.84 +0.75%) announced today that the company is increasing their quarterly dividend by 2.6 percent to $.4875 per share.
Following the dividend increase, Verizon shares will yield 6.5 percent based on today’s closing price. That makes Verizon the highest yielding stock in the Dow Jones index ahead of top competitor AT&T (T: 29.95 +0.54%).
This marks the fourth consecutive year that Verizon has increased their quarterly dividend.
“This increase is a clear indication of the strength of our cash flow, our balance sheet and our company,” said Ivan Seidenberg, Verizon chairman and chief executive officer. “Our board is yet again demonstrating its resolve in returning value to our shareholders and its belief in our strategies, all while continuing to invest in the long-term growth of our business.”
The dividend is payable on November 1, 2010 to shareholders of record as of October 8, 2010.
