Verizon increases dividend for 16th consecutive year

Rhea-AI Summary

Verizon Communications has declared a quarterly dividend of 65.25 cents per share, marking a 1.25 cent increase from the previous quarter. The dividend, reflecting the company's strong financial discipline, is set to be paid on November 1, 2022, to shareholders of record as of October 7, 2022. This is the 16th consecutive year of dividend increases, showcasing Verizon's commitment to delivering long-term value. In the first half of 2022, the company paid out approximately $5.4 billion in cash dividends.

Positive

• Quarterly dividend increased to 65.25 cents per share.
• 16th consecutive year of dividend increases.
• Demonstrates strong cash flow with $5.4 billion in dividend payments in H1 2022.

Negative

• None.

Company has the longest current streak of dividend increases in the U.S. telecom industry

NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The Board of Directors at Verizon Communications Inc. (NYSE, Nasdaq: VZ) today declared a quarterly dividend of 65.25 cents per outstanding share, an increase of 1.25 cents per share from the previous quarter. The quarterly dividend is payable on November 1, 2022, to Verizon shareholders of record at the close of business on October 7, 2022.

This is the 16th consecutive year Verizon’s Board has approved a quarterly dividend increase.

“Our consistently disciplined approach to the market to maximize growth and profitability has again put the Verizon Board in a position to raise the dividend,” said Chairman and CEO Hans Vestberg. “We will continue to execute our network-as-a-service strategy to deliver long-term shareholder value.”

Verizon has approximately 4.2 billion shares of common stock outstanding. The company made approximately $5.4 billion in cash dividend payments in the first half of 2022.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 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 $133.6 billion in 2021. 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 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
@ericwilkens

FAQ

What is the new dividend amount for Verizon (VZ)?

The new dividend amount is 65.25 cents per share.

When will Verizon's dividend be paid?

The dividend will be paid on November 1, 2022.

What date is the record for Verizon's dividend?

The record date is October 7, 2022.

How long has Verizon been increasing its dividend?

Verizon has increased its dividend for 16 consecutive years.

How much did Verizon pay in dividends in the first half of 2022?

Verizon paid approximately $5.4 billion in dividends during the first half of 2022.