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Mr. Market hasn’t been kind to Verizon (NYSE:VZ) or its shareholders. Shares have plummeted after trading in a range of $50-$60 from September 10th, 2018, through April 2022. Shares of VZ crashed through the $40 level and continued their downward descent to the lower $30s. Over the past 5-years, shares of VZ have lost -38.19% of their value, going from $54.12 to $33.45, and when the $12.55 of dividend income that has been paid is factored in, VZ’s total return is -15%. Sometimes, good companies see their share prices decline, and it amazes me that, unlike shopping for retail goods, the stock market is where people fear sales. Could shares of VZ continue to decline? Absolutely, but their valuation is so low that they may have hit rock bottom. After their 17th consecutive annual dividend increase of 1.9%, VZ is paying a dividend of $2.66 per share, which is a 7.87% yield….
