Verizon Communications Inc. (NYSE: VZ) shares are flat in a market in which the S&P 500 could soon be down 10% and the Nasdaq further. Even if the market falls more, this could still be true. Verizon has a rock-hard 6.49% yield, revenue likely to remain strong, good cash flow, and an impressive balance sheet.
Morningstar pointed out Verizon's dominant position in the US postpaid phone market, allowing for high margins and returns on capital, highlighting its strength compared to competitors like AT&T and T-Mobile.
Verizon's cash flow philosophy involves returning a significant portion of free cash flow to investors, amounting to about $11 billion in 2023, showcasing a long-standing commitment to shareholder returns.
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