Verizon's (NYSE: VZ) dividend currently yields more than 6%. That puts the telecom giant's payout among the highest yields in the S 500, where the average is 1.5%.

However, while a higher-yielding payout often indicates a higher risk of a future reduction, that's growing increasingly unlikely for Verizon. That's clear in the company's financial results from last year and outlook for 2024.

Verizon recently reported its fourth-quarter and full-year results for 2023. On the one hand, the telecom giant reported declining revenue and earnings in both periods. Here's a snapshot of its income statement for the fourth quarter:

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Source Fool.com