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Verizon Communications Inc. (NYSE:VZ) is one of the best dividend stocks yielding at least 5% to buy according to hedge funds.

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On June 27, Verizon Communications Inc. (NYSE:VZ) secured nearly $3.2 billion worth of wireless licenses in a Federal Communications Commission (FCC) auction for mid‑band spectrum. The auction raised about $3.5 billion in total, with other winners including AT&T, T‑Mobile, and SpaceX. According to the FCC, AT&T successfully bid $278 million, T‑Mobile $121 million, and SpaceX $8.5 million for spectrum licenses.

On June 4, Verizon Communications' board approved a quarterly dividend of $0.71 a share, in line with the previous quarter's rate. The dividend is to be paid on August 3, 2026, to shareholders of record as of July 10, 2026. According to CEO Dan Schulman, the dividend offering affirms the company's commitment to long-term shareholder value.

Verizon continues to prioritize building trust and staying in line with its capital allocation strategy. The ability to hike dividends for 20 consecutive years underscores the cash-generating nature of the core business. Last year, the company returned close to $11.5 billion to shareholders through dividend payouts.

Verizon Communications Inc. (NYSE:VZ) is a global telecommunications company that provides wireless, broadband, and internet services. It operates one of the largest mobile networks in the United States, offering mobile phone plans, home internet, and enterprise network solutions.

While we acknowledge the potential of VZ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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