Dividend Contenders List: Top 15

4. Verizon Communications Inc. (NYSE:VZ)

Dividend Yield as of March 12: 6.3%

Verizon Communications Inc. (NYSE:VZ) is an American multinational telecommunications company. It posted strong results for the fourth quarter of 2024, reporting $35.7 billion in revenue, reflecting a 1.6% increase from the previous year. Growth was driven by a rise in customer additions across both mobile wireless and internet services. In the mobile wireless segment, net postpaid phone subscriber additions climbed to 568,000, up from 449,000 a year earlier. Revenue from this segment grew by 3.1% year-over-year to $20 billion, marking its 18th consecutive quarter of growth.

Verizon Communications Inc. (NYSE:VZ)’s growth momentum was fueled by localized incentives and marketing efforts, the expansion of its customizable “myPlans,” and a stronger distribution network through Walmart. The company also strengthened its prepaid wireless segment by acquiring TracFone, while its total wireless churn rate improved by 50 basis points, reaching 1.62% for the full year. Looking ahead to 2025, the company anticipates wireless revenue growth of 2% to 2.8%. Analysts project a 2% increase in both total revenue and adjusted earnings per share (EPS).

Verizon Communications Inc. (NYSE:VZ) remains attractive to investors due to its strong cash flow and commitment to innovation. In fiscal 2024, the company generated $37 billion in operating cash flow, while free cash flow rose 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 6.3%, as of March 12. The company has been growing its payouts for 18 consecutive years, which places it on our dividend contenders list.