Verizon Communications Inc. (VZ) has continued its pattern of raising its dividend payments by a small amount, this time raising by about 2%. As a result of two dividend increases and reinvestment of dividends, my next dividend payment in November will be 11% higher than my first dividend payment 15 months earlier.
Though VZ's dividend yield is quite high, the dividend growth rate is so low that the security may not be able to carry its share of the burden to reach my $560 monthly goal in 2035. But given VZ's current low valuation, it is not on my list of stocks to consider selling in the very near future. A sale may be triggered if Verizon's valuation increases rapidly sometime soon.
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