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Since October 2021, the communications sector has been lagging behind the S&P 500, and is down 36% year-to-date. As consumer discretionary spending is decreasing due to inflationary pressures, phone and internet services will likely continue to generate revenue as internet connectivity remains a priority for most people.
Additionally, Verizon has introduced its welcome to 5g unlimited plan, which will cost $30 a line per month. Here are two dividend stocks in the communications sector generating consistent revenues.
Verizon Communications Inc VZ is offering a dividend yield of 6.10% or $2.56 per share annually, through quarterly payments, with a notable track record of increasing its dividends for 19 years. Verizon Communications serves about 93 million postpaid and 23 million prepaid phone customers following the acquisition of TracFone in 2021, via its nationwide network, making it among the largest U.S. wireless carrier.
In the first half of the year, total Verizon consumer revenue was $25.6 billion, an increase of 9.1% year-over-year, driven by the inclusion of TracFone, due to higher equipment revenue and core wireless service revenue growth.
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Comcast Corporation CMCSA is offering a dividend yield of 3.14% or $1.08 per share annually, making quarterly payments, with a strong track record of increasing its dividends for 16 years. Comcast Corporation’s core cable business owns networks capable of providing television, internet access, and phone services to roughly 61 million U.S. homes and businesses, or nearly half of the country, as of 2021.
For the six months ended June 30, 2022, Comcast paid dividends totaling $2.4 billion and repurchased 133.4 million of its common shares for $6 billion, resulting in a total return of capital to shareholders of $8.4 billion, compared to $2.7 billion in 2021.
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Image and article originally from www.benzinga.com. Read the original article here.