Dow Dividend Stocks #2: Verizon (VZ)
Verizon (VZ) wasn’t the best stock to own in terms of capital appreciation in 2013 (the stock was only up 14.5% for the year), but it did pay out $2.06 per share in dividend income, and it will pay an even better $2.12 in 2014. In fact, Verizon has been steadily increasing its payouts for seven consecutive years.
VZ reported fourth-quarter earnings last week and beat on earnings per share of 66 cents, net income of 5.07 billion and revenue of $31.07 billion. It also added 1.7 million net wireless connections during the quarter, accounting for wireless revenues of $21.1 billion, which were up more than 5% year over year.
VZ stock fell a bit more than 2% when the news broke, giving investors the chance to purchase the shares of this ever-growing telecom at about $48. With a PEG ratio of 1 and a forward P/E ratio of 12.2, VZ seems to be fairly-valued, so you can feel comfortable adding one of the top dividend stocks to your portfolio at current levels.