10 Safe Dividend Stocks with Yields Above 5%

5. Verizon Communications Inc. (NYSE:VZ)

Dividend Yield as of April 20: 6.15%

Verizon Communications Inc. (NYSE:VZ) is an American telecommunications company, based in New York. The company is aiming to accelerate its broadband expansion by acquiring Frontier Communications Parent, a leading US provider focused solely on fiber. According to Verizon, this acquisition would boost its broadband network by around 10 million connections by 2026, the anticipated closing year of the deal.

In parallel, Verizon Communications Inc. (NYSE:VZ) is also stepping into the artificial intelligence space through its AI Connect platform. This service allows major tech companies, including Google’s parent Alphabet, to deliver AI capabilities to edge devices—such as smartphones—via Verizon’s wireless network.

For the fourth quarter of 2024, Verizon Communications Inc. (NYSE:VZ) posted solid financials, reporting $35.7 billion in revenue, a 1.6% increase compared to the same period last year. This growth was fueled by rising customer numbers across both wireless and internet services. In its mobile wireless segment alone, the company added 568,000 net postpaid phone subscribers, up from 449,000 a year earlier, with segment revenue climbing 3.1% to $20 billion—marking its 18th consecutive quarter of growth.

Verizon Communications Inc. (NYSE:VZ) continues to stand out for its robust cash generation and consistent dividend performance. In fiscal 2024, it brought in $37 billion in operating cash flow and reported $19.8 billion in free cash flow, reinforcing its appeal to income-focused investors. The company offers a quarterly dividend of $0.6775 per share and has a dividend yield of 6.15%, as recorded on April 20. VZ’s dividend growth spans 18 years, which makes it one of the best dividend stocks on our list.