The Income Tracker

Verizon’s Dividend Didn’t Grow This Quarter. That’s the Story.

Verizon declared its quarterly dividend at $0.7075 per share on September 9 — unchanged from the prior quarter, after two increases earlier in 2026, on a stock now yielding 5.69% against a 4.81% Treasury.

The Income Event

Verizon Communications declared a quarterly cash dividend of $0.7075 per share on September 9, 2026, payable November 2, 2026, to shareholders of record as of October 9, 2026. This is the same per-share amount paid in the prior quarter. It follows two increases earlier in 2026: from $0.6775 to $0.690, then to $0.7075. Over the trailing 12 months, the per-share dividend rose 4.43% — but that growth has now stalled at the current rate for two consecutive quarters.

Current Yield or Distribution

At Verizon’s September 9 closing price of $49.74, the $2.83 annualized dividend produces a current yield of 5.69%.

ROI Tracker Pro calculation: $2.83 ÷ $49.74 × 100 = 5.69%. This is a yield on today’s price, not a guaranteed or contractual rate of return, and it moves inversely with the stock price regardless of what the company does with the payout itself.

Coverage and Cash Flow

Verizon’s dividend payout ratio was reported near 55% (GAAP earnings basis), a range analysts generally consider sustainable for a mature telecom carrier with stable free cash flow. Verizon’s 2025 cash dividend payments totaled approximately $11.5 billion against 2025 revenue of $138.2 billion.

We do not have an independently verified, current free-cash-flow coverage figure in hand for this edition — a number worth checking against Verizon’s next 10-Q rather than accepting a payout-ratio estimate at face value.

Inflation-Adjusted Perspective

The Consumer Price Index rose 3.4% for the 12 months ending July 2026. Verizon’s per-share dividend grew 4.43% over a comparable trailing-year window.

ROI Tracker Pro calculation: [(1 + 0.0443) ÷ (1 + 0.034)] − 1 = 0.99%, or roughly 1%. The per-share payout modestly outpaced inflation over the past year. This is a statement about dividend purchasing power only — it is not a total-return figure, and it does not account for any change in Verizon’s stock price.

Principal Risk

A flat dividend for two consecutive quarters, after a company that has raised its payout for close to two decades, is worth watching rather than alarm — Verizon has not announced a cut or a change in policy. But a payout that stops growing while inflation continues means the real value of each check erodes further with each flat quarter. The stock itself carries a separate risk: a 52-week range of $38.39 to $51.68 shows real price volatility that a 5.69% yield does not offset if the stock falls further than that.

What Could Raise the Income

A resumption of Verizon’s historical raise cadence at its next declaration (typically announced around December) would signal management still views growth as durable. Continued deleveraging and stable postpaid wireless subscriber trends would support that case.

What Could Cut the Income

A sustained rise in wireless competition, continued heavy spending on network buildout or spectrum, or a deterioration in free cash flow relative to roughly $11.5 billion in annual dividend payments would each pressure the payout. None of these conditions is confirmed as present; this is a risk to monitor, not a forecast.

Income Classification

Income Strengthening, With a Pause

The dividend has not been cut, still modestly outpaces inflation on a trailing-year basis, and yields nearly a full point above the current 10-year Treasury. But two consecutive quarters without an increase — after two increases inside the same calendar year — is a deceleration in growth rate that shifts this away from a confident “strengthening” classification and toward one investors should re-test each quarter.

Next Payment or Filing to Watch

The dividend pays November 2, 2026, to holders of record October 9, 2026. Verizon’s next dividend declaration, typically announced in early December, will show whether the raise cadence resumes.