Verizon Communications Inc. Stocks Sink to Lowest Close in Over 13 Years

1 Mins read

Shares of Verizon Communications Inc. are experiencing a downward trend, reaching their lowest close in more than 13 years amidst a selloff in the telecommunications sector.

Verizon’s stock, with the ticker symbol VZ, dropped by 2.0% during Friday afternoon trading. It is currently trading at $30.54 per share, marking the stock’s lowest close since September 8, 2010, when it finished at $30.46.

One noteworthy development is Verizon’s dividend yield, which has soared to a record high of 8.69%.

October 29th is the ex-dividend date for Verizon, with the settlement period lasting two days. Shareholders who are recorded as of October 10 will receive the new quarterly dividend of 66.50 cents per share on November 1.

This week, Verizon’s stock has witnessed its worst performance since the week ending July 22, 2022, declining by 5.7%. In mid-July 2022, the stock experienced a weekly decline of 12.9%.

In addition to Verizon, other major telecommunications companies are also witnessing drops in their stock prices. AT&T Inc., represented by the ticker symbol T, saw its stock decrease by 2.0%. Similarly, Charter Communications Inc.’s stock, with the ticker symbol CHTR, fell by 0.6%. These three companies, along with Verizon, were the only losers in the Communication Services Select Sector SPDR fund (XLC) during midday action.

Beyond the exchange-traded fund (ETF), the stocks of Dish Network Corp. (DISH), Altice USA Inc. (ATUS), and Lumen Technologies Inc. (LUMN) were among the other notable decliners in the telecommunications industry.

Related posts

Replimune Group's RP1 Clinical Trial Falls Short

1 Mins read
Replimune Group, a clinical-stage biotechnology company, has announced that its clinical trial evaluating the efficacy of RP1 as a treatment for cutaneous…

GitLab Stock Surges on First Ever Adjusted Operating Profit

1 Mins read
GitLab’s stock experienced a significant surge on Tuesday following the announcement of its first ever adjusted operating profit. Despite this positive development,…

Virgin Galactic Faces Stock Decline Amid Founder's Money Decision

2 Mins read
Virgin Galactic stock experienced a sharp decline in early trading on Monday due to founder Richard Branson’s announcement that he won’t be…

Leave a Reply

Your email address will not be published. Required fields are marked *

− 1 = 1