Verizon Boosts Shareholders’ Return With Dividend Hike

Verizon Boosts Shareholders’ Return With Dividend Hike

Verizon Communications enhanced shareholders’ returns by announcing a 2% increase in its quarterly dividend payout. The company’s board of directors approved a quarterly dividend of $0.6275 per share, $0.0125 higher than the previous quarter.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The latest announcement marks the 14th consecutive year of dividend hikes for Verizon Communications (VZ). The newly announced dividend will be payable on November 2 to Verizon shareholders of record at the close of business on October 9, 2020.” data-reactid=”13″>The latest announcement marks the 14th consecutive year of dividend hikes for Verizon Communications (VZ). The newly announced dividend will be payable on November 2 to Verizon shareholders of record at the close of business on October 9, 2020.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Based on the stock’s closing price as of September 4, the recently declared dividend reflects an annualized dividend yield of 4.1%. The telecom and wireless services provider has returned approximately $5.1 billion to shareholders through dividend payments in the first half of 2020. (See VZ stock analysis on TipRanks).” data-reactid=”14″>Based on the stock’s closing price as of September 4, the recently declared dividend reflects an annualized dividend yield of 4.1%. The telecom and wireless services provider has returned approximately $5.1 billion to shareholders through dividend payments in the first half of 2020. (See VZ stock analysis on TipRanks).

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Tigress Financial Partners analyst Ivan Feinseth sees Verizon as an “attractive long-term investment opportunity.” Feinseth stated on August 11 that he “view opportunities in 5G and online content delivery and significant dividend yield as the potential to create an attractive long-term investment opportunity.” However, based on the company’s current valuation, he maintained a Hold rating on the stock.” data-reactid=”19″>Tigress Financial Partners analyst Ivan Feinseth sees Verizon as an “attractive long-term investment opportunity.” Feinseth stated on August 11 that he “view opportunities in 5G and online content delivery and significant dividend yield as the potential to create an attractive long-term investment opportunity.” However, based on the company’s current valuation, he maintained a Hold rating on the stock.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 5 Buys and 6 Holds. The average analyst&nbsp;price target&nbsp;of $62.30 implies an upside potential of 3% to current levels. Shares are down by 1.5% year-to-date.” data-reactid=”20″>Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 5 Buys and 6 Holds. The average analyst price target of $62.30 implies an upside potential of 3% to current levels. Shares are down by 1.5% year-to-date.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Related News:
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