{"id":54288,"date":"2023-08-29T06:21:37","date_gmt":"2023-08-29T10:21:37","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/another-verizon-dividend-hike-likely-on-the-way-despite-lead-cable-concerns\/"},"modified":"2023-08-29T06:21:39","modified_gmt":"2023-08-29T10:21:39","slug":"another-verizon-dividend-hike-likely-on-the-way-despite-lead-cable-concerns","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=54288","title":{"rendered":"Another Verizon dividend hike likely on the way despite lead-cable concerns"},"content":{"rendered":"
\n

Despite concerns about potential lead-remediation costs, Verizon Communications Inc. is likely to increase its dividend once again in early September, according to Morgan Stanley. <\/p>\n

Analyst Simon Flannery expects the telecommunications company to raise its dividend by about 2%, in line with what it did a year ago. Verizon
\n VZ,
\n +0.60%<\/bg-quote>
\n historically announces dividend increases around this time of year, and last year marked the 16th straight year of hikes. <\/p>\n

\n

Flannery noted that Verizon is one of several high-yielding telecommunications names whose dividend yields exceed those of their 10-year corporate bonds. <\/p>\n

<\/p>\n

<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

Verizon had the largest spread of the companies within his coverage, at about 210 basis points.<\/p>\n

\u201cThese high-dividend yields do come against a backdrop of concerns around dividend sustainability, with a dividend reduction at AT&T and elimination at Lumen last year, and now fears about lead remediation and litigation costs,\u201d Flannery wrote. Shares of AT&T and Verizon were weighed down earlier this summer after a Wall Street Journal report explored the telecommunication\u2019s industry\u2019s legacy use of lead-sheathed cables, some of which are still in place. <\/p>\n

Verizon could generate $17 billion in free cash flow this year, while its annual dividend payout could come out to about $11 billion. AT&T Inc.
\n T,
\n +0.71%<\/bg-quote>
\n has a $16 billion goal for free cash flow, and the company may end up paying out $8 billion in dividends. <\/p>\n

\u201cBoth companies expect capital intensity to improve in 2024,\u201d Flannery said. <\/p>\n

See also<\/strong>: These dividend stocks yield as much as 11% while meeting strict criteria for estimated cash flow<\/p>\n

While higher-yielding telecommunications stocks have come under pressure recently amid rising rates, Flannery expects they could get some relief \u201cif, as we expect, the Fed is near the end of their tightening cycle,\u201d meaning that rates could start to decline. <\/p>\n

Could the third big U.S. wireless player join Verizon and AT&T among the ranks of dividend payers? T-Mobile US Inc.
\n TMUS,
\n +1.37%<\/bg-quote>
\n signaled in its latest 10-Q that it \u201ccould elect to declare dividends in the future.\u201d But Flannery thinks the company \u201cstill prefers to return capital via share buybacks, with a new larger buyback program expected in coming weeks.\u201d <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite concerns about potential lead-remediation costs, Verizon Communications Inc. is likely to increase its dividend once again in early September, according to Morgan Stanley. Analyst Simon Flannery expects the telecommunications company to raise its dividend by about 2%, in line with what it did a year ago. Verizon VZ, +0.60% historically announces dividend increases around […]<\/p>\n","protected":false},"author":1,"featured_media":40253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-54288","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nAnother Verizon dividend hike likely on the way despite lead-cable concerns | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Despite concerns about potential lead-remediation costs, Verizon Communications Inc. is likely to increase its dividend once again in early September,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=54288\" \/>\n<meta property=\"og:locale\" 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