14 Best Performing Dividend Stocks To Buy Now

9. Verizon Communications Inc. (NYSE:VZ)

Year-to-Date Return as of March 7: 13.84%

An American multinational telecommunications company, Verizon Communications Inc. (NYSE:VZ) ranks ninth on our list of the best performing stocks that pay dividends. The company is currently advancing its “AI Connect” initiative, which offers the necessary infrastructure and connectivity solutions for businesses to deploy and manage AI workloads. This effort is aimed at capitalizing on the expanding AI infrastructure market, which is expected to attract over $1 trillion in investments over the next decade. The initiative leverages the company’s existing fiber network and edge computing capabilities. As of the fourth quarter of 2024, it had already secured a $1 billion deal pipeline, with major players like Google and Meta utilizing Verizon Communications Inc.’s (NYSE:VZ) network for AI workloads.

Verizon Communications Inc. (NYSE:VZ) delivered solid fourth-quarter results in 2024, posting $35.7 billion in revenue, a 1.6% year-over-year increase. Growth was fueled by higher customer additions across both mobile wireless and internet services. In the mobile wireless segment, net postpaid phone subscriber additions reached 568,000, up from 449,000 in the same period last year. Revenue from this segment grew 3.1% year-over-year to $20 billion, marking its 18th consecutive quarter of expansion.

Verizon Communications Inc. (NYSE:VZ) has garnered investor interest due to its strong cash flow and focus on innovation. In fiscal 2024, the company reported $37 billion in operating cash flow, while free cash flow increased to $19.8 billion from $18.7 billion in the prior year. It offers a quarterly dividend of $0.6775 per share and has a dividend yield of 5.88%, as recorded on March 7. VZ’s dividend growth streak currently spans over 18 years.