The Board of Directors of New York-based Verizon Communications Inc. (NYSE: VZ – $45.99) said it declared a quarterly dividend of $0.59 per share, an increase of 1.25 cents per share, or 2.2% from the previous quarter. The dividend is payable on Nov. 1, 2017, to Verizon shareholders of record at the close of business on Oct. 10, 2017. This is the 11th consecutive year Verizon has issued a quarterly dividend increase.
This blue-chip equity continues to hold conservative investment appeal with its low valuation and strong cash flow. At the recent quotation, the issue’s capital-appreciation potential remains positive and fairly well-defined. What’s more, the 5.1% dividend yield will likely attract income-seeking investors, as well.