Aug. 30 at 1:52 PM
$VZ DRIP snowballing… check my math!
Price: 49.91. Quarterly Dividend Yield: 0.7075.
➡️ For every 70.5 shares, DRIP purchases 1 new share per quarter.
➡️ 1,243.34 shares: DRIP purchases 17.63 shares per quarter, or 70.5 shares per year which means DRIP purchases +1 share per quarter the following year
➡️ 4,970.25 shares: DRIP purchases 70.5 shares per quarter, which means DRIP purchases +1 share per subsequent quarter.
➕ Dividend growth rate is 3.14% TTM. Dividend has grown for 21 consecutive years.