: Verizon ups dividend by nearly 2%, lifting implied yield to 7.73%

Verizon Communications Inc. VZ plans to up its quarterly dividend by 1.25 cents to 66.50 cents a share, the company said Thursday morning. This increase of nearly 2% marks the company’s 17th year in a row of dividend hikes. “Our consistently disciplined approach to driving strong cash flow, operating the business, and serving our customers has once again put the board in a position to raise the dividend,” Chief Executive Hans Vestberg said in a release. The new dividend is payable Nov. 1 to shareholders of record as of the close of business Oct. 10. Verizon’s implied yield based on the new dividend is 7.73%, while rival AT&T Inc.’s T is currently 7.58%.

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