VZ announced 09/04 a quarterly dividend increase from 0.53 to 0.55. The dividend is payable Nov. 3, 2014 to shareholders of record as of Oct. 10, 2014.
This is an increase of 3.8%. It’s not great but about what I’d expect from a telecom company. VZ is a company that I expect a higher starting yield and slower growth like a utility. This balances out some of positions with lower starting yields but higher growth.
This is the 8th straight year that VZ has increased their dividend. Going forward it will be interesting to see what impact the buyout of the remaining stake of Verizon Wireless from Vodafone will have on earnings.
Since I own 276 shares, this will increase my yearly dividends by $22.08. I’ve had 29 stocks in my portfolio increase their dividend already this year.