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Verizon Covering Dividends with Free Cash Flow

publication date: Dec 2, 2024
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Image Source: Verizon. 

Looking to 2024, Verizon expects total wireless service revenue growth in the range of 2%-3.5%, adjusted EBITDA growth of 1%-3% and adjusted earnings per share of $4.50-$4.70. The company’s total unsecured debt at the end of the third quarter was $126.4 billion, a $1.1 billion sequential increase, but a level that is lower compared to the end of the same period last year. Net unsecured debt to consolidated adjusted EBITDA was 2.5 times. Verizon’s Dividend Cushion ratio is weighed down by its massive net debt load, but the dividend is supported by free cash flow. Shares yield 6.1%. Our fair value estimate stands at $44 per share.


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