Verizon‘s (NYSE: Z) board of directors has declared a quarterly dividend of 53 cents per share on the company’s common stock, 1.5 cents higher than the previous quarter.
This represents the seventh consecutive year that the board has approved a quarterly dividend increase and the new dividend is 6 cents higher on an annual basis, going from $2.06 per share to $2.12 per share, Verizon said Monday.
The company says it has nearly 2.7 million stockholders and 2.9 billion shares of common stock outstanding.
Stockholders received $2.9 billion in dividend payments through the first half of 2013, according to Verizon.