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Dow Component Verizon Communications (VZ) To Go Ex-dividend Tomorrow

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading down 82.0 points (-0.5%) at 14,990 as of Monday, Oct 7, 2013, 10:30 a.m. ET. During this time, 68.9 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 364.4 million. The NYSE advances/declines ratio sits at 744 issues advancing vs. 2,089 declining with 127 unchanged.
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Tuesday, October 8, 2013 is the ex-dividend date for Dow component Verizon Communications (NYSE: VZ). Owners of shares as of market close today will be eligible for a dividend of 53 cents per share. At a price of $47.44 as of 10:30 a.m. ET, the dividend yield is 4.5% compared to the average Dow component yield of 2.6%.

The average volume for Verizon Communications has been 11.4 million shares per day over the past 30 days. Verizon Communications has a market cap of $135.27 billion and is part of the technology sector and telecommunications industry. Shares are up 9.2% year to date as of Friday's close.

Verizon Communications Inc., through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company has a P/E ratio of 87.5, equal to the average telecommunications industry P/E ratio.
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TheStreet Ratings rates Verizon Communications as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

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