Stock Buy $VZ

Another opportunity presented itself this month and I’ve decided to snatch up some additional shares of Verizon Communications, Inc. (VZ) into my portfolio. The primary reason that compelled this purchase to me is because the company is being offered at great valuations and very near its 52 week lows. Also, I always wanted to equal out the ownership stake with (T) as these two oligopolies combine a great one two punches in my portfolio and the domination of the industry itself.

Company Overview: 

Verizon Communications Inc. was founded in 1983 and is headquartered in New York City. Essentially, it is a holding company that provides communication, information and entertainment products and services to consumers, businesses and governmental agencies throughout 150 countries around the world. Verizon is one of the worlds leading providers of communications, information and entertainment products and services such as television services, telephone services, and internet providing.

Statistics:

• Dividend Yield: 4.7%
• 3Yr Dividend Growth Rate: 3.1%
• Payout Ratio: 59.1%
• P/E: 11.1
• Consecutive Years of Dividend Raises: 10
• Dividend Payout: Quarterly

I purchased 41 shares for the price of $49.10 for a total investment of $2,013.10 adding $94.71 to my annual dividend income.

It is the 2nd time I am initiating a stock acquisition this year. This transaction is my additional purchase of VZ shares into the portfolio. As of today, I now hold a total of 83 shares of the company. Additionally, VZ ownership stake represents to be around 4.3% of my whole portfolio value.

Conclusion:

The 12-month dividend income increases to $3,055.

Thank you for reading & have a great day!