Verizon Communications Inc. Announces Quarterly Dividend of $0.69 (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZ) declared a quarterly dividend on Thursday, December 4th. Stockholders of record on Monday, January 12th will be paid a dividend of 0.69 per share by the cell phone carrier on Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Monday, January 12th.

Verizon Communications has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 20 consecutive years. Verizon Communications has a dividend payout ratio of 57.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Verizon Communications to earn $4.86 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 56.8%.

Verizon Communications Stock Up 1.5%

Verizon Communications stock opened at $41.27 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 1.19. Verizon Communications has a 1-year low of $37.58 and a 1-year high of $47.35. The firm’s fifty day simple moving average is $40.77 and its 200-day simple moving average is $42.38. The company has a market capitalization of $174.01 billion, a P/E ratio of 8.82, a P/E/G ratio of 3.62 and a beta of 0.33.

Verizon Communications (NYSE:VZ) last posted its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, topping the consensus estimate of $1.19 by $0.02. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. The firm had revenue of $33.82 billion for the quarter, compared to the consensus estimate of $34.19 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts forecast that Verizon Communications will post 4.69 earnings per share for the current fiscal year.

Institutional Trading of Verizon Communications

A number of hedge funds have recently bought and sold shares of the stock. Bulwark Capital Corp acquired a new stake in Verizon Communications during the second quarter worth about $25,000. Advantage Trust Co raised its holdings in Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 500 shares in the last quarter. TruNorth Capital Management LLC lifted its position in shares of Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after acquiring an additional 305 shares during the period. 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications in the 1st quarter worth approximately $29,000. Finally, Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Verizon Communications during the 3rd quarter worth approximately $29,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).