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- Verizon is a member of the Dow Jones industrial average.
- The company also pays the highest dividend in the legacy index.
- Grab this free report now: Access 2 legendary, high-yield dividend stocks Wall Street loves.
Passive income is characterized by its ability to generate revenue without requiring the earner’s continuous active effort. That makes it a desirable financial strategy for those seeking to diversify their income streams or achieve financial independence.
Investors looking to buy into stable Dow Jones industrials stocks should consider Verizon Communications, a leading wireless and internet provider. The company’s shares have notably increased in the past month, offering potential shareholders an attractive entry point. Investors may want to also check out these dividend legends.
Verizon Communications
This top telecommunications company offers tremendous value, trading at just 8.7 times estimated 2025 earnings and paying investors a hefty 6.42% dividend. Verizon Communications Inc. (NYSE: VZ), through its subsidiaries, provides communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide.
It operates in two segments:
- Verizon Consumer Group
- Verizon Business Group
The Consumer segment provides wireless services across the wireless networks in the United States under the Verizon and TracFone brands and through wholesale and other arrangements; and fixed wireless access (FWA) broadband through its wireless networks, as well as related equipment and devices, such as:
- Smartphones
- Tablets
- Smartwatches
- Wireless-enabled connected devices
The segment also offers wireline services in the Mid-Atlantic and Northeastern United States and the District of Columbia through its fiber-optic network, Verizon Fios product portfolio, and a copper-based network.
The Business segment provides wireless and wireline communications services and products, including:
- FWA broadband
- Data
- Video and conferencing
- Corporate networking
- Security and managed network
- Local and long-distance voice
- Network access services to deliver various IoT services and products to businesses, government customers, and wireless and wireline carriers in the United States and internationally
How many shares of Verizon are needed to generate $1,500 in passive income
Investors looking to generate $1,500 per year in passive income by owning Verizon shares, which pay $2.66 per share each year, would have to buy 564 shares of the stock at current trading prices. That would be approximately a $23,365 purchase, and with the stock looking to break out to a 52-week high, there could be some solid upside potential as well.
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