Topic: How To Invest

Wall Street Stock Forecaster Hotline Friday, March 19, 2021

Article Excerpt

VERIZON COMMUNICATIONS INC., $56.24, New York symbol VZ; is your #1 Income buy for 2021. The company has 94.1 million wireless users, 5.3 million phone customers and 20.0 million Internet and TV subscribers. Verizon has raised its dividend each year for the past 14 years. The latest increase came in November 2020 when the company raised your quarterly dividend by 2.0%, to $0.6275 from $0.6150. The new annual rate of $2.51 a share yields a high 4.5%. As a result of the U.S. government’s recent auction, Verizon has agreed to pay $52.9 billion for new C-band wireless spectrum (or radio frequencies). To put that cost in context, the company’s market cap is $232.7 billion. The new spectrum will let Verizon accelerate the rollout of its ultrafast 5G wireless networks. By 2024, it expects to offer 5G service to over 250 million people in the U.S. compared to 100 million by the end of this year. As part of that plan, Verizon now plans to spend…