5 Best High-Yield Dividend Stocks To Buy Now

4. Verizon Communications Inc. (NYSE:VZ)

Dividend Yield as of November 22: 6.70%

Verizon Communications Inc. (NYSE:VZ) is an American multinational telecommunications company that provides wireless and broadband services to its consumers. The company has been raising its dividends for the past 16 years, coming through as one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.6526 per share and has a dividend yield of 6.70%, as of November 22.

In the third quarter of 2022, Verizon Communications Inc. (NYSE:VZ) reported a revenue of $34.2 billion, which showed a 4% growth from the same period last year. In the first nine months of the year, the company generated $28.2 billion and its free cash flow for the period came in at $12.4 billion.

Verizon Communications Inc. (NYSE:VZ) saw growth in hedge fund positions in Q3 2022, as 62 funds in Insider Monkey’s database owned stakes in the company, up from 58 in the previous quarter. The collective value of these stakes is over $1.42 billion.

Mawer Investment Management mentioned Verizon Communications Inc. (NYSE:VZ) in its Q3 2022 investor letter. Here is what the firm has to say:

“There are a few other segments of our portfolios that displayed weakness in the quarter. Cable and telecommunication companies have been an area that has lagged the broader market as their worlds are increasingly colliding. Companies such as Verizon (NYSE:VZ) has been impacted as wireless operator is spending heavily to attract internet subscribers with fixed wired access and the cable companies are trying to build wireless businesses.”