Topic: How To Invest

Dividend Advisor Hotline – Friday, July 23, 2021

Article Excerpt

VERIZON COMMUNICATIONS INC., $55.88, New York symbol VZ, is a buy. The company has 121.33 million wireless users (consumers and businesses) and 20.1 million residential phone, Internet and TV subscribers. Verizon has raised its dividend each year for the past 14 years. The latest increase came in November 2020 when the company raised your quarterly dividend by 2.0%, to $0.6275 from $0.6150. The new annual rate of $2.51 a share yields a high 4.5%. In the quarter ended June 30, 2021, the number of wireless subscribers under long-term contracts (net of cancellations) rose 350,000. That’s due to stronger demand for new phones that can tap the company’s ultrafast 5G wireless networks. About 20% of Verizon’s customers now have 5G devices. Revenue in the quarter rose 10.8%, to $33.76 billion from $30.48 billion a year earlier. That just beat the consensus forecast of $32.77 billion. Earnings before unusual items improved 16.1%, to $1.37 a share from $1.18. That also beat the consensus estimate of $1.30. The company…