Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 7, 2021

Article Excerpt

VERIZON COMMUNICATIONS INC., $58.72, New York symbol VZ; is your #1 Income buy for 2021. The company has 120.85 million wireless users (consumers and businesses) and 20.0 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 payment by 2.0%, to $0.6275 from $0.6150. The new annual rate of $2.51 a share yields a high 4.3%. The company is now selling its Verizon Media division to private equity firm Apollo Global Management, Inc. (New York symbol APO). That business mainly consists of popular websites such as Yahoo, AOL, TechCrunch and Engadget. Verizon will receive $4.25 billion in cash and $750 million in preferred shares. It will also keep a 10% stake in Verizon Media, which will change its name to Yahoo. To put those amounts in context, the company’s market cap (the total value of all outstanding shares) is $243.1 billion. Verizon expects to…