Verizon vs. AT&T: One Telecom Dividend Is on Shaky Ground

2 hours ago 1

Vandita Jadeja

Wed, April 8, 2026 astatine 11:39 AM CDT 5 min read

Verizon (NYSE:VZ) and AT&T (NYSE:T) person some reported full-year results, and the dividend communicative betwixt them is much nuanced than earthy payout numbers suggest. Verizon's cheque is larger, but AT&T's equilibrium expanse is cleaning up faster. Which dividend is really safer requires looking past the yield.

  • Verizon (VZ) posted Q4 wireless work gross of $19.9B with 18 consecutive quarters of sequential maturation and a 5.7% dividend yield, though its dividend consumes 57% of escaped currency travel against $144B successful debt.

  • AT&T (T) reported Q4 gross of $33.47B with AT&T Fiber reaching 10.4 cardinal connections, and its dividend present uses lone 42% of escaped currency travel with stronger FCF projections of $21B+ by 2028.

  • AT&T’s 2022 dividend chopped already absorbed its restructuring shock, leaving a little but much sustainable payout, portion Verizon’s larger dividend faces unit from the pending Frontier acquisition and higher leverage heading into 2025.

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Verizon's Q4 2024 wireless work gross deed $19.9 billion, marking the 18th consecutive 4th of sequential growth. The user conception drove $27.56 cardinal successful Q4 revenue, up 2.2%, portion fixed wireless entree gross surged 51.6% to $611 cardinal arsenic the institution pushed toward its people of 8 to 9 cardinal FWA subscribers by 2028.

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AT&T's quarterly results landed with much momentum. Total gross reached $33.47 billion, up 3.6% twelvemonth implicit year, beating estimates. Mobility gross roseate 5.3% to $24.35 billion, and AT&T Fiber present counts 10.4 cardinal connections, up 11.5% twelvemonth implicit year. The institution has posted much than 1 cardinal AT&T Fiber nett adds for 8 consecutive years.

Business Driver

Verizon (Q4 2024)

AT&T (Q4 2025)

Total Revenue

$35.68B (+1.6%)

$33.47B (+3.6%)

Wireless Service Revenue

$19.998B (+3.1%)

$16.95B (+2.4%)

Broadband Growth Engine

Fixed Wireless Access (+51.6%)

AT&T Fiber (+11.5% subs YoY)

Annualized Dividend

$2.76

$1.11

Verizon's output sits astatine astir 5.7% based connected its existent terms of $48.79 and an annualized dividend of $2.76. The institution has raised its payout for 15-plus years, and FY2025 operating currency travel came successful astatine $37.14 cardinal against $11.48 cardinal successful dividend payments. That looks steadfast astatine the operating level.

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