VZ - Verizon Communications Is the Best-Performing Telco Stock in 2024. Should You Buy?
2024-05-05 03:25:00 ET
It may surprise many investors that Verizon Communications (NYSE: VZ) is the top-performing telecom stock in 2024. Indeed, it benefits from being one of only three 5G providers, and the industry's massive fixed costs make it unlikely that additional competitors will enter it.
However, such costs have also burdened Verizon in other respects. Such conditions may lead to questions as to whether payout increases are sustainable.
In the first four months of the year, Verizon has returned around 9% to investors. A portion of the return is dividends. At an annual payout of $2.66 per share, shareholders earn a dividend yield of 6.7% annually, or just under 1.7% so far this year.
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Verizon Communications Is the Best-Performing Telco Stock in 2024. Should You Buy?