Tuesday, September 6, 2022

Dividend Increase - Verizon Communications Inc. (VZ)



Tuesday, September 6th the Board of Verizon Communications Inc. (VZ) announced a quarterly dividend increase of from $ 0.64 to $ 0.6525 per share that’s payable November 1, 2022 to holders of record October 7, 2022. This represents a 1.95% increase over the last quarterly dividend.


This is the 18th consecutive year Verizon’s Board has approved a quarterly dividend increase.


“Our consistently disciplined approach to the market to maximize growth and profitability has again put the Verizon Board in a position to raise the dividend,” said Chairman and CEO Hans Vestberg. “We will continue to execute our network-as-a-service strategy to deliver long-term shareholder value.”


With current price $ 41.35 (today's open), this raise brings their dividend yield to 6.31%.



Verizon is a Dividend Contenders with a 18 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.0, 2.1, 2.1 and 2.5 (Dividend Champions.xls)



Since I own 185 shares of VZ, this will increase my portfolio's projected annual net dividend income by $ 6.89.


This increase was in line with my expectations.


This is the second dividend increase I've received from Verizon since initiating a position in June 2021.


This increase raises my YOC to 4.84%.



Summary of 2022 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long VZ


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