Portfolio Change: Verizon Communications
Today I am removing wireless, TV and Internet service provider Verizon Communications, Inc. (NYSE: VZ – $46.18) from the income portfolio. While I believe the company still has room to grow, the telecom service sector has increasingly become out of favor and better opportunities exit. The shares have made a nice profit for income investors since joining the list in February, 2014, up approximately 17.0%, with an annualized return of about 12%. I am maintaining the position, however, in the conservative portfolio for now.