Verizon increases dividend for 14th consecutive year

Rhea-AI Summary

Verizon Communications (NYSE: VZ) declared a quarterly dividend of 62.75 cents per share, marking a 1.25 cent increase from the previous quarter. The dividend will be payable on November 2, 2020, to shareholders on record by October 9, 2020. This announcement signifies Verizon's 14th consecutive year of dividend increases. The company has around 4.1 billion shares outstanding and distributed approximately $5.1 billion in cash dividends in the first half of 2020, reflecting its strong financial position.

Positive

• Quarterly dividend increased by 1.25 cents per share.
• 14th consecutive year of dividend increases.
• Approximately $5.1 billion in cash dividends paid in H1 2020.

Negative

• None.

BASKING RIDGE, N.J., Sept. 03, 2020 (GLOBE NEWSWIRE) -- The Board of Directors at Verizon Communications Inc. (NYSE, Nasdaq: VZ) today declared a quarterly dividend of 62.75 cents per outstanding share, an increase of 1.25 cents per share from the previous quarter. The quarterly dividend is payable on November 2, 2020, to Verizon shareholders of record at the close of business on October 9, 2020.  

This is the 14th consecutive year Verizon’s Board has approved a quarterly dividend increase.

Verizon has approximately 4.1 billion shares of common stock outstanding. The company made approximately $5.1 billion in cash dividend payments in the first half of 2020.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019. 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, security and control.

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

Media contact:
Kim Ancin
Kimberly.ancin@verizon.com
908.559.3227 

Eric Wilkens
eric.wilkens@verizon.com
201.572.9317
@ericwilkens

FAQ

What is the new quarterly dividend for Verizon?

The new quarterly dividend for Verizon is 62.75 cents per share.

When will Verizon's dividend be paid?

Verizon's dividend will be paid on November 2, 2020.

What is the record date for Verizon's dividend?

The record date for Verizon's dividend is October 9, 2020.

How many years has Verizon increased its dividend?

Verizon has increased its dividend for 14 consecutive years.

What was the total cash dividend paid by Verizon in the first half of 2020?

Verizon paid approximately $5.1 billion in cash dividends in the first half of 2020.