Verizon Raises Its Dividend; New Yield Is 4.2%
Verizon Communications (NYSE: VZ) isn't a Dividend Aristocrat, but it appears to be making a long-term play at eventually becoming one. On Thursday, the telecom giant said it's raising its quarterly payout for the 14th year in a row. S&P 500 index components that accomplish this feat for a minimum of 25 years in a row become Aristocrats.
Whether or not it's aspiring to stock royalty, Verizon added just over $0.01 per share to the distribution, for a total of nearly $0.63. The new dividend is to be handed out on Nov. 2 to investors of record as of Oct. 9. Based on the most recent closing stock price, that yield will be 4.1%.
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Source Fool.com
