Topic: How To Invest

Dividend Advisor Hotline – Friday, September 13, 2024

Article Excerpt

VERIZON COMMUNICATIONS INC., $44.43, New York symbol VZ, is a buy. The telecom provider is the second-largest wireless carrier in the U.S. after AT&T, with 114.2 million consumer cellphone subscribers. It also sells traditional telephone lines, high-speed Internet and TV services. With the November 2024 payment, Verizon will raise your quarterly dividend by 1.9%, to $0.6775 a share from $0.655. The new annual rate of $2.71 a share yields a high 6.1%. With this increase, the company has now raised its dividend each of the past 18 years. The company has now agreed to acquire Frontier Communications Parent Inc. (Nasdaq symbol FYBR) in an all-cash deal valued at $20 billion. To put that cost in perspective, Verizon’s market cap (the total value of all outstanding shares) is $187.0 billion. Frontier provides high-speed Internet access through fibre-optic lines to 2.2 million subscribers across 25 states. The purchase will expand the reach of Verizon’s fibre network to 25 million premises across 31 states and Washington, D.C….