Verizon Increases Their Dividend by 2% in 2022

Posted by More Dividends in Dividend Increases On September 6, 2022

Dividend Increase Announcement

On September 6th, Verizon announced a dividend increase of 2%. This will increase their dividend per month from $0.64 to $0.6525. It is payable on November 1st for shareholders of record on October 7th. The new monthly dividend represents an annualized dividend amount of $2.61 per share as compared to the current annualized dividend amount of $2.56 per share.

Verizon Dividend Information

Annual Dividend: $2.61
Dividend Growth History: 16 years
Dividend Yield: 6.20%

Dividend Increase Effect

I am currently holding 44.306 shares of Verizon stock in the More Dividends portfolio. With this 2% increase it will add an additional $2.22 to my projected annual dividend income and this doesn’t even take into account the compounding factor! That brings my projected annual dividend income to a grand total of $2,075.92

Current Stock Position

Verizon has actually been one of my newest positions. The yield had gotten pretty high. The company has taken on a lot of debt while building onto their 5G network but I felt like it was worth the risk.

It is only a matter of time until 5G is more a part of our lives with forever evolving technology.

In the short term, Verizon may have some debt issues to deal with but I think over the long term it will prove to be a good investment.

Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉

Do you currently hold any stock in Verizon? What do you think of this dividend increase? Just let me know in the comments.

As always I look forward to reading all of your comments and questions, until then….. happy investing!

-Jason from MoreDividends.com