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Verizon Communications (VZ) announced Thursday an increase in its quarterly dividend by 2.1% to 60.25 cents per share.
Michael Nagle / Bloomberg
This is the 12th consecutive year in which the major mobile operator has increased its dividend.
The stock has an attractive yield of 4.3% and a return of 21.4% over the past year, slightly ahead of the performance of S & P 500 .
In recent years, Verizon has announced an increase in its dividend by a similar percentage.
A year ago, the board of directors of the company announced a quarterly payment of 59 cents per share, up 2.2% from the previous amount.
Last year, Verizon paid nearly two-thirds of its earnings in the form of dividends, or $ 2.34 per share against a profit of $ 3.74.
Still, the firm's strong cash flow supported the dividend, even with significant capital expenditures. Second quarter operating cash flow was $ 9.8 billion, up $ 1.9 billion from a year earlier.
The quarterly dividend is payable on November 1 to shareholders of record at the close of business on October 10.
The stock closed Thursday at $ 54.29, up 0.87% over the session.
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