Verizon’s narrower focus will pay off

Article Excerpt

Verizon is now selling its media businesses, primarily its popular websites like Yahoo, AOL and Huffington Post. They have struggled in the face of strong competition from Google and Facebook. The sale will let Verizon focus on expanding its main wireless and high-speed Internet services. That includes the ongoing rollout of its new 5G (fifth-generation) wireless systems, which are up to 100 times faster than its current 4G (or LTE) networks. The speed allows for much faster video and data transfers. That should help Verizon attract new customers, and hang on to its current users. 5G will also give the company more room to keep raising your dividend. VERIZON COMMUNICATIONS INC. $56 is your #1 Income buy for 2021. The company (New York symbol VZ; Income Portfolio, Utilities sector, Shares outstanding: 4.1 billion; Market cap: $229.6 billion; Price-to-sales ratio: 1.7; Dividend yield: 4.5%; TSINetwork Rating: Average; www.verizon.com) is the second-largest provider of wireless communication (cellphone) services in the U.S. after AT&T,…