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
Recent Dividend Increases in Portfolio
General Mills Increases Their Dividend by 6% in 2022
Wells Fargo Increases Their Dividend, For The Second Time, by 20% in 2022
Altria Group Increases Their Dividend by 4.4% in 2022
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