Verizon Says Dividend Is Sustainable as Buybacks Target Rises to $4.5 Billion
Dan Schulman said Verizon’s capital returns are a sustained program, not a one-time move. The quarterly dividend is $0.71 per share for two straight quarters, with the payout ratio at 77.03% versus 124.34% in the prior spike. Free cash flow rose 24% to $6.4 billion, and Verizon raised full-year buybacks to as much as $4.5 billion and free-cash-flow growth guidance to 9%–10%.