Verizon declares quarterly dividend on June 5

Rhea-AI Summary

The Board of Directors of Verizon Communications declared a quarterly dividend of 66.50 cents per share, consistent with the previous three quarters. This dividend will be payable on August 1, 2024, to shareholders of record by July 10, 2024. Chairman and CEO Hans Vestberg emphasized the company's confidence in its cash flow and dedication to shareholder value. Verizon aims to raise the dividend later this year, continuing a 17-year trend. Verizon has around 4.2 billion shares outstanding and paid over $11 billion in cash dividends in 2023. In 2023, Verizon generated $134 billion in revenue, offering various technology and communication services worldwide.

Positive

• Declared consistent quarterly dividend of 66.50 cents per share.
• Dividend payable on August 1, 2024, ensures short-term investor returns.
• Company aims to raise the dividend later this year, indicating financial strength.
• 17-year history of consecutive dividend increases shows long-term growth.
• Over $11 billion paid in cash dividends in 2023 highlights strong cash flow.
• Generated $134 billion in revenue in 2023, reflecting robust business performance.

Negative

• No increase in quarterly dividend compared to prior quarters, indicating stagnation.
• High dividend payout could limit funds available for reinvestment and growth.
• Dependence on consistent cash flow for dividend payments may be risky if revenue falls.

NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Verizon Communications Inc. (NYSE, Nasdaq: VZ) today declared a quarterly dividend of 66.50 cents per outstanding share, consistent with the previous three quarters. The quarterly dividend is payable on August 1, 2024, to Verizon shareholders of record at the close of business on July 10, 2024.

"Our commitment to delivering a consistent dividend reflects both our confidence in the strength of our cash flow and our dedication to creating value for our shareholders," said Chairman and CEO Hans Vestberg. “We are focused on putting the Board in a position to raise the dividend again later this year, which we have done for 17 consecutive years.”

Verizon has approximately 4.2 billion shares of common stock outstanding. The company made more than $11.0 billion in cash dividend payments in 2023.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed in 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $134.0 billion in 2023. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, and security.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Eric Wilkens
eric.wilkens@verizon.com
201-572-9317

FAQ

What is the quarterly dividend declared by Verizon in June 2024?

Verizon declared a quarterly dividend of 66.50 cents per share.

When is Verizon's next dividend payable?

The dividend is payable on August 1, 2024.

What is the record date for Verizon's upcoming dividend?

Shareholders must be on record by the close of business on July 10, 2024, to receive the dividend.

How long has Verizon been increasing its dividends?

Verizon has raised its dividend for 17 consecutive years.

How much did Verizon pay in cash dividends in 2023?

Verizon paid more than $11 billion in cash dividends in 2023.

What were Verizon's revenues in 2023?

Verizon generated $134 billion in revenue in 2023.

How many shares of common stock does Verizon have outstanding?

Verizon has approximately 4.2 billion shares of common stock outstanding.