Cramer Likes Verizon's (VZ) 6.1% Dividend Yield
On Friday's Mad Money, Jim Cramer stuck to his "Invest in America" theme, and welcomed Verizon's (NYSE: VZ) CEO, Ivan Seidenberg. Cramer said he believes investors need Verizon in their portfolio, citing its 6.1% dividend yield and several other factors, which Mr. Seidenberg elaborated on:
- its recent acquisition of Alltel has pushed Verizon past AT&T (NYSE: T) as the US's largest wireless provider with more than 80 million wireless customers
- Verizon's CEO called the company's dividend "the best way to return value to shareholders". Cramer noted that the company just recently boosted its dividend by 7% to $0.46 on a quarterly basis
- the CEO sees huge growth prospects for Verizon's FIOS Internet and TV network
- talks with Microsoft (Nasdaq: MSFT) and Google (Nasdaq: GOOG) related to Verizon's future wireless platforms could prove to be very important for the communications company.
Verizon Communications, Inc. provides communication services in the United States and internationally.
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