Verizon raises dividend, to enhance lead as highest-yielding Dow part

Shares of Verizon Communications Inc.

rose zero.2% in premarket buying and promoting Tuesday, after the telecommunications agency raised its quarterly dividend by 2%, to enhance its lead has the very most interesting-yielding Dow Jones Industrial common

part. Verizon said the mannequin new dividend of sixty five.25 cents a share, up from sixty 4.00 cents a share, will be payable Nov. 1 to shareholders of file on Oct. 7. primarily based on Friday’s closing prices, Verizon’s new annual dividend price implies a dividend yield of 6.32%, which compares with the implied yield for the S&P 500

of 1.sixty eight%. the subsequent highest-yielding Dow part is Dow Inc.’s inventory, which had an implied dividend yield of 5.sixty eight% as of Friday’s shut. Verizon shares have tumbled 19.4% over the previous three months by way of Friday whereas the Dow has declined 4.9%.