Investors Run to Safety of Top Dividend Stocks
Vanguard Equity Income Fund initiated a stake in Vodaphone Group (VOD), buying 1.2 million shares, resulting in a 0.6% stake. Vodaphone is the second-largest wireless phone company in the world, with a major presence throughout Europe, and it also owns a 45% holding in Verizon Wireless in the U.S. It has a $142 billion market value and carries a 6.94% dividend yield. Vodafone's shares are up 8.2% this year.
Vanguard Equity Income also initiated a stake in Consolidated Edison (ED), buying 273,700 shares in the holding company of two regulated utilities that provide power to New York City and surrounding counties. The largest is Con Ed of New York. They provide steam, natural gas, and electricity to customers in southeastern New York -- including New York City -- and parts of New Jersey and Pennsylvania. It has a market value of $16 billion and carries a 4.4% dividend yield. Its shares are up 13.6% this year.
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