Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, October 22, 2021

Article Excerpt

VERIZON COMMUNICATIONS INC., $52.93, 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 2021 payment, Verizon will raise your quarterly dividend by 2.0%, to $0.64 a share from $0.6275. The new annual rate of $2.56 yields a high 4.8%. The company has now increased its dividend each year for the past 15 years. On September 1, 2021, the company sold 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 received $4.25 billion in cash and $750 million in preferred shares; it also recognized a $736 million after-tax gain on the transaction. At the same time, it has kept a 10% stake in Verizon Media, which changed its name to Yahoo. Meantime, in the quarter ended September 30, 2021,…

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