Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 26, 2021

Article Excerpt

VERIZON COMMUNICATIONS INC., $51.80, New York symbol VZ, is your #1 Income Buy for 2021. The company has 121.99 million wireless users (consumers and businesses) and 20.1 million residential phone, Internet and TV subscribers. With the November 1, 2021, payment, Verizon raised your quarterly dividend by 2.0%, to $0.64 a share from $0.6275. The new annual rate of $2.56 yields a high 4.9%. The company has now increased its dividend each year for the past 15 years. Verizon has completed its acquisition of TracFone, which sells pre-paid and value-priced cellphone plans to 20 million users in the U.S. The company paid Mexico-based America Movil (New York symbol AMX), TracFone’s parent company, $6.5 billion, consisting of $3.125 billion in cash and $3.125 billion in stock. That price is equal to 3% of Verizon’s $214.5 billion market cap. Depending on TracFone’s future performance, Verizon may have to pay an additional $650.0 million. About 13 million of TracFone’s subscribers already use Verizon’s wireless networks under a leasing agreement…

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