Tuesday, September 7, 2021

Dividend Increase #59 of 2021 - Verizon Communications Inc. (VZ)



Thursday, September 2nd the Board of Verizon Communications Inc. (VZ) announced a quarterly dividend increase of from $ 0.6275 to $ 0.64 per share that’s payable November 1, 2021 to holders of record October 8, 2021. This represents a 1.99% increase over the last quarterly dividend.


This is the 15th consecutive year Verizon’s Board has approved a quarterly dividend increase.


Chairman and CEO Hans Vestberg said, “We continue to deliver value to our shareholders as we execute our multi-purpose network strategy and grow the top and bottom lines.”


With current price $ 55.43 (Friday's close), this raise brings their dividend yield to 4.62%.


Verizon is a Dividend Contenders with a 15 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.1, 2.1, 2.2 and 2.6 (Dividend Champions.xls)



Since I own 90 shares of VZ, this will increase my portfolio's projected annual net dividend income by $ 3.35.


This increase was in line with my expectations.


This is the first dividend increase I've received from Verizon since initiating a position this year in June.


This increase raises my YOC to 4.52%.



Summary of 2021 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long VZ


Thanks for stopping by!


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