Shares of Verizon Communications Inc. VZ rose 0.6% in afternoon trading Wednesday, to put them on track for a seventh-straight gain, to buck the weakness in the broader stock market. If the telecommunications giant’s stock closes up, it would market the longest stretch of gains since the seven-day win streak that ended May 6, 2021, according to Dow Jones Market Data. The stock has now run up 8.8% since it closed at $34.46 on June 5, which was the lowest close Aug. 12, 2011. Despite the stock’s recent rally, it remains the highest-yielding component of the Dow Jones Industrial Average DJIA, as the annual dividend rate of $2.61 implies a dividend yield of 6.96%, just above second-place Walgreen’s Boots Alliance Inc.’s stock’s WBA 6.56% yield. In comparison, the S&P 500’s SPX implied dividend yield is 1.54%.
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