This 7.7%-Yielding Dividend Is Growing Safer by The Quarter
Shares of (NYSE: VZ) have been under a lot of pressure in recent years over concerns that its heavy investments in 5G could cause its financial profile to deteriorate. That caused a weight of worry the telecom giant might need to cut its dividend, which has driven its yield up to 7.7%.
However, those concerns seem unfounded. Verizon's second-quarter results showcased that its investments in 5G are starting to pay off. They also highlighted that the company's dividend is on an increasingly improving financial foundation.
At first glance, Verizon's second-quarter results might seem a bit underwhelming. Revenue declined by 3.5% from the prior year period to $32.6 billion. Meanwhile, adjusted earnings fell from $1.31 to $1.21 per share.
Source Fool.com
Verizon Communications Inc. Stock
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