CryptoCurrency
Verizon Just Gave Good News to Income Investors Who Love Its Ultra-High Dividend Yield
Many investors didn’t like Verizon Communications‘ (NYSE: VZ) third-quarter update on Tuesday. That’s obvious from Verizon stock sinking around 5% after the telecommunications giant reported its Q3 results.
But some investors should be pleased with Verizon’s latest update. Why? The company just gave good news to income investors who love its ultra-high dividend yield of nearly 6.5%.
Verizon announced Q3 revenue of $33.3 billion, flat year over year and slightly under the consensus estimate of $33.5 billion. It posted adjusted earnings per share of $1.19. Although this result was down from adjusted earnings per share of $1.22 in the prior-year period, it narrowly topped the average analysts’ estimate of $1.18 per share.
Wall Street analysts also focused on other figures in Verizon’s Q3 update. For example, the company reported total fixed wireless net additions of 363,000, bringing its subscriber base to nearly 4.2 million. This growth enabled Verizon to reach its fixed wireless subscriber target of 4 million to 5 million, 15 months ahead of schedule.
However, those aren’t the numbers that matter to income investors. Instead, they are more concerned with the financial metrics that make a difference in Verizon’s dividends continuing to flow and grow. And Verizon provided reasons to be confident about its dividend program in its Q3 update.
CEO Hans Erik Vestberg said in the Q3 earnings call that Verizon delivered the highest earnings before interest, taxes, depreciation, and amortization (EBITDA) in the company’s history. CFO Tony Skiadas noted that Verizon is on track to reach or exceed the midpoint of its guidance range for full-year adjusted EBITDA.
Skiadas added, “That strong EBITDA led to free cash flow of $14.5 billion year to date, and that’s consistent with the prior year.” He pointed out that the year-to-date free cash flow included an additional $2.5 billion in cash taxes.
Verizon’s leaders also expressed a strong commitment to the dividend program in the Q3 earnings call. Skiadas reiterated that the company’s top two capital allocation priorities are investing in the business and funding the quarterly dividend.
In September, Verizon announced it was increased the dividend for the 18th consecutive year. Skiadas said, “[O]ur goal is to put the board in a position for further dividend increases.”
How is the telecommunications company delivering on this goal? Vestberg highlighted the pending acquisition of Frontier Communications, which he said would expand Verizon’s total addressable market. He also maintained that Verizon’s broadband, mobility, and other services should enable the company to grow its EBITDA and cash flow.
Bitcoin price rallies within $200 of a new all-time high as several fundamentals point to the crypto bull marking picking up pace.
A former IRS special agent and Binance’s head of financial crime compliance, Tigran Gambaryan had been in Nigerian custody with reports of deteriorating health since February.
UK based foreign exchange brand Travelex has announced that the company has undertaken a major expansion in the UAE, with the launch of 13 new stores across Abu Dhabi and Dubai airports.
At Zayed International Airport, Travelex is doubling its store footprint from seven to 14 stores, including six new on-the-move kiosk (OTM) locations at arrivals baggage, airside departures and pre-immigration, and one new traditional landside store. The new landside store will offer both a cash management service that will enable the airport’s businesses to process cash, as well as traditional consumer cash services, including access to 62 currencies.
Travelex initially entered Zayed International Airport in late 2023 with seven stores and eight ATMs. The new stores reflect the growing passenger demand and customer requirements of the UAE’s newest airport. As a dominant force in the capital’s aviation sector, Zayed International Airport rapidly affirmed itself as a key hub for air travel, solidifying its position as a vital player in the global travel landscape.
At Dubai International (DXB), Travelex is in the process of launching six new stores across all three terminals, including new traditional stores and stores upgraded from OTMS. Two ATMS dispensing AED were also installed at Terminal 3 Arrivals earlier this year. DXB has also seen a considerable post-pandemic growth in pax numbers, reinforcing its status as a leading hub for international travel.
The 13 new stores across Abu Dhabi and Dubai means Travelex will be operating 60 locations across the country. The latest IATA figures show that Middle Eastern airlines saw a 9.6% year-on-year increase in demand for June 2024, while capacity increased 9.4% year-on-year.
Batu Dölay, Managing Director, Travelex Middle East and Türkiye said:
“We’re delighted to be expanding our presence at two of the most exciting and dynamic airports in the world. This investment reflects the growing global reach and passenger numbers of our UAE airport partners, and our commitment to providing even greater access to international travel money than ever before.”
About Travelex
Founded in 1976 Travelex has grown to become one of the market leading specialist providers of foreign exchange products, solutions, and services, operating across the entire value chain of the foreign exchange industry in more than 20 countries. We have developed a growing network of ATMs and stores in some of the world’s top international airports, major transport hubs, premium shopping malls and city centres.
Travelex has built a growing online and mobile foreign exchange platform, and we also process and deliver foreign currency orders for major banks, travel agencies, supermarkets and hotels worldwide. In addition, we source and distribute sizeable quantities of foreign currency banknotes for customers on a wholesale basis – including central banks and international financial institutions. We also offer a range of remittance and international money transfer products around the world.
Solana price hits $180 as Bitcoin storms toward a new all-time high. Data suggests SOL can go higher.
Miners including Cormint and TeraWulf are among the lowest-cost producers of Bitcoin, an important advantage amid tightening margins, CoinShares said.
Having contributed roughly $12 million to PACs supporting Kamala Harris, Chris Larsen said he hoped to see “bipartisan support and weight” for crypto in government starting in 2025.
-
Science & Environment1 month agoHow to unsnarl a tangle of threads, according to physics
-
Technology1 month agoIs sharing your smartphone PIN part of a healthy relationship?
-
Science & Environment1 month agoHyperelastic gel is one of the stretchiest materials known to science
-
Science & Environment1 month ago‘Running of the bulls’ festival crowds move like charged particles
-
Technology1 month agoWould-be reality TV contestants ‘not looking real’
-
Science & Environment1 month agoMaxwell’s demon charges quantum batteries inside of a quantum computer
-
Science & Environment1 month agoX-rays reveal half-billion-year-old insect ancestor
-
Science & Environment1 month agoSunlight-trapping device can generate temperatures over 1000°C
-
Technology4 weeks agoUkraine is using AI to manage the removal of Russian landmines
-
Sport4 weeks agoBoxing: World champion Nick Ball set for Liverpool homecoming against Ronny Rios
-
Science & Environment1 month agoLiquid crystals could improve quantum communication devices
-
Technology4 weeks agoGmail gets redesigned summary cards with more data & features
-
Football4 weeks agoRangers & Celtic ready for first SWPL derby showdown
-
Science & Environment1 month agoPhysicists have worked out how to melt any material
-
Science & Environment1 month agoQuantum ‘supersolid’ matter stirred using magnets
-
Science & Environment1 month agoLaser helps turn an electron into a coil of mass and charge
-
TV4 weeks agoসারাদেশে দিনব্যাপী বৃষ্টির পূর্বাভাস; সমুদ্রবন্দরে ৩ নম্বর সংকেত | Weather Today | Jamuna TV
-
Technology4 weeks agoSamsung Passkeys will work with Samsung’s smart home devices
-
Technology1 month agoRussia is building ground-based kamikaze robots out of old hoverboards
-
MMA4 weeks agoDana White’s Contender Series 74 recap, analysis, winner grades
-
News4 weeks ago‘Blacks for Trump’ and Pennsylvania progressives play for undecided voters
-
News4 weeks agoMassive blasts in Beirut after renewed Israeli air strikes
-
Sport4 weeks agoAaron Ramsdale: Southampton goalkeeper left Arsenal for more game time
-
Science & Environment1 month agoA new kind of experiment at the Large Hadron Collider could unravel quantum reality
-
News3 weeks ago▶ Hamas Spent $1B on Tunnels Instead of Investing in a Future for Gaza’s People
-
MMA3 weeks ago‘Uncrowned queen’ Kayla Harrison tastes blood, wants UFC title run
-
Technology4 weeks agoEpic Games CEO Tim Sweeney renews blast at ‘gatekeeper’ platform owners
-
News3 weeks agoNavigating the News Void: Opportunities for Revitalization
-
Technology1 month agoWhy Machines Learn: A clever primer makes sense of what makes AI possible
-
Football4 weeks agoWhy does Prince William support Aston Villa?
-
MMA4 weeks agoPereira vs. Rountree prediction: Champ chases legend status
-
News4 weeks agoWoman who died of cancer ‘was misdiagnosed on phone call with GP’
-
Business4 weeks agoWhen to tip and when not to tip
-
Science & Environment1 month agoWhy this is a golden age for life to thrive across the universe
-
Science & Environment1 month agoITER: Is the world’s biggest fusion experiment dead after new delay to 2035?
-
Womens Workouts1 month ago3 Day Full Body Women’s Dumbbell Only Workout
-
Technology1 month agoMicrophone made of atom-thick graphene could be used in smartphones
-
News4 weeks agoRwanda restricts funeral sizes following outbreak
-
Technology4 weeks agoMusk faces SEC questions over X takeover
-
Sport4 weeks agoWales fall to second loss of WXV against Italy
-
Business4 weeks ago
DoJ accuses Donald Trump of ‘private criminal effort’ to overturn 2020 election
-
News4 weeks agoCornell is about to deport a student over Palestine activism
-
Technology4 weeks agoMicrosoft just dropped Drasi, and it could change how we handle big data
-
Sport4 weeks ago2024 ICC Women’s T20 World Cup: Pakistan beat Sri Lanka
-
MMA4 weeks agoKayla Harrison gets involved in nasty war of words with Julianna Pena and Ketlen Vieira
-
Technology4 weeks agoCheck, Remote, and Gusto discuss the future of work at Disrupt 2024
-
Money4 weeks agoWetherspoons issues update on closures – see the full list of five still at risk and 26 gone for good
-
Sport4 weeks agoMan City ask for Premier League season to be DELAYED as Pep Guardiola escalates fixture pile-up row
-
Science & Environment1 month agoQuantum forces used to automatically assemble tiny device
-
Science & Environment1 month agoA slight curve helps rocks make the biggest splash
-
Science & Environment1 month agoNuclear fusion experiment overcomes two key operating hurdles
-
News1 month ago▶️ Hamas in the West Bank: Rising Support and Deadly Attacks You Might Not Know About
-
Technology1 month agoMeta has a major opportunity to win the AI hardware race
-
Sport4 weeks agoChina Open: Carlos Alcaraz recovers to beat Jannik Sinner in dramatic final
-
MMA4 weeks ago‘I was fighting on automatic pilot’ at UFC 306
-
News4 weeks agoGerman Car Company Declares Bankruptcy – 200 Employees Lose Their Jobs
-
Technology4 weeks agoTexas is suing TikTok for allegedly violating its new child privacy law
-
MMA4 weeks agoKetlen Vieira vs. Kayla Harrison pick, start time, odds: UFC 307
-
Sport4 weeks agoSturm Graz: How Austrians ended Red Bull’s title dominance
-
News4 weeks agoHull KR 10-8 Warrington Wolves – Robins reach first Super League Grand Final
-
MMA3 weeks ago‘Dirt decision’: Conor McGregor, pros react to Jose Aldo’s razor-thin loss at UFC 307
-
Entertainment4 weeks agoNew documentary explores actor Christopher Reeve’s life and legacy
-
Science & Environment1 month agoNerve fibres in the brain could generate quantum entanglement
-
Business1 month agoStocks Tumble in Japan After Party’s Election of New Prime Minister
-
Business4 weeks ago
how UniCredit built its Commerzbank stake
-
Business4 weeks ago
Bank of England warns of ‘future stress’ from hedge fund bets against US Treasuries
-
Business4 weeks ago
Sterling slides after Bailey says BoE could be ‘a bit more aggressive’ on rates
-
News4 weeks agoFamily plans to honor hurricane victim using logs from fallen tree that killed him
-
Business4 weeks ago
The search for Japan’s ‘lost’ art
-
Sport4 weeks agoPremiership Women’s Rugby: Exeter Chiefs boss unhappy with WXV clash
-
Technology3 weeks agoIf you’ve ever considered smart glasses, this Amazon deal is for you
-
Sport4 weeks agoCoco Gauff stages superb comeback to reach China Open final
-
Technology4 weeks agoThis AI video generator can melt, crush, blow up, or turn anything into cake
-
Football4 weeks ago'Rangers outclassed and outplayed as Hearts stop rot'
-
Technology4 weeks agoOpenAI secured more billions, but there’s still capital left for other startups
-
Technology4 weeks agoThe best budget robot vacuums for 2024
-
Science & Environment1 month agoTime travel sci-fi novel is a rip-roaringly good thought experiment
-
News1 month ago▶️ Media Bias: How They Spin Attack on Hezbollah and Ignore the Reality
-
Science & Environment1 month agoHow to wrap your mind around the real multiverse
-
Business4 weeks agoChancellor Rachel Reeves says she needs to raise £20bn. How might she do it?
-
MMA4 weeks agoJulianna Peña trashes Raquel Pennington’s behavior as champ
-
Business4 weeks agoWater companies ‘failing to address customers’ concerns’
-
Technology4 weeks agoThe best shows on Max (formerly HBO Max) right now
-
Sport3 weeks agoWXV1: Canada 21-8 Ireland – Hosts make it two wins from two
-
Technology4 weeks agoJ.B. Hunt and UP.Labs launch venture lab to build logistics startups
-
Business4 weeks ago
Head of UK Competition Appeal Tribunal to step down after rebuke for serious misconduct
-
Business4 weeks agoStark difference in UK and Ireland’s budgets
-
Money4 weeks agoPub selling Britain’s ‘CHEAPEST’ pints for just £2.60 – but you’ll have to follow super-strict rules to get in
-
Technology4 weeks agoLG C4 OLED smart TVs hit record-low prices ahead of Prime Day
-
Sport1 month agoWorld’s sexiest referee Claudia Romani shows off incredible figure in animal print bikini on South Beach
-
Technology4 weeks agoApple iPhone 16 Plus vs Samsung Galaxy S24+
-
Politics4 weeks ago
Rosie Duffield’s savage departure raises difficult questions for Keir Starmer. He’d be foolish to ignore them | Gaby Hinsliff
-
Health & fitness4 weeks agoNHS surgeon who couldn’t find his scalpel cut patient’s chest open with the penknife he used to slice up his lunch
-
MMA4 weeks agoPereira vs. Rountree preview show live stream
-
Football4 weeks agoSimo Valakari: New St Johnstone boss says Scotland special in his heart
-
Business4 weeks ago
Top shale boss says US ‘unusually vulnerable’ to Middle East oil shock
-
Technology4 weeks agoSingleStore’s BryteFlow acquisition targets data integration
-
News4 weeks agoSpongerla Rayner’s gift gluttony is worse than Free Gear Keir’s – her freeloading has destroyed working class reputation
-
MMA4 weeks agoUFC 307 preview show: Will Alex Pereira’s wild ride continue, or does Khalil Rountree shock the world?
-
Business4 weeks ago
Champagne days for F1
You must be logged in to post a comment Login