By Colin Kellaher


Verizon Communications Inc. on Tuesday said its board raised the quarterly dividend by 2%, to 65.25 cents from 64 cents.

The new payout, equal to $2.61 a year, represents an annual yield of about 6.32% based on Friday's closing price of $41.30, up from 6.2%.

The largest U.S. wireless carrier by subscribers said the increased dividend is payable Nov. 1 to shareholders of record Oct. 7, adding that it has raised its dividend for 16 straight years.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

09-06-22 0924ET