Verizon’s Dividends Kept $1,000 Afloat at $1,580 While the S&P 500 Reached $3,910

Here is what $1,000 invested in Verizon (NYSE:VZ | VZ Price Prediction) at the November 2016 month-end close would be worth today. It compares that with the same amount in the State Street SPDR S&P 500 ETF Trust (NYSEARCA:SPY), which tracks the S&P 500. Both scenarios assume dividends were reinvested.

Debt, Spectrum Costs and Rivals Held Verizon Back

Verizon spent the decade paying heavily for wireless spectrum and its 5G network, and it now carries $166.2B in debt. Competition from T-Mobile (NASDAQ:TMUS) and AT&T (NYSE:T) pressured customer growth, and sales grew slowly. Revenue reached $138.2 billion in 2025.

Under chief executive Dan Schulman, the company closed its Frontier Communications purchase on Jan. 20, 2026, and signed an AI infrastructure deal with Amazon Web Services, part of Amazon (NASDAQ:AMZN), valued at over $2 billion. In the third quarter, it added 406,000 postpaid phone customers, and its adjusted EBITDA margin rose to 40.2%.

Verizon Turned $1,000 Into $1,580 While SPY Hit $3,910

Let’s say that Verizon was bought at $49.90 and SPY at $220.38. Based on share price alone, the Verizon stake would be worth $916. With dividends taken as cash, the total comes to $1,427.

1-Year Return (Verizon on dividend-adjusted prices, SPY on price only)

• Initial Investment: $1,000
• Current Value: $1,225.60
• Total Return: 22.56%
• S&P 500 (SPY): $1,109 (10.9%)

5-Year Return (same basis)

• Initial Investment: $1,000
• Current Value: $1,207
• Total Return: 20.7%
• Annualized Return: 3.83%
• S&P 500 (SPY): $1,678 (67.8%)

10-Year Return (dividends reinvested)

• Initial Investment: $1,000
• Current Value: $1,580
• Total Return: 58%
• Annualized Return: about 4.68%
• S&P 500 (SPY): $3,910 (291%)

Over 10 years, the Verizon stake stayed above its starting value, including dividends. The quarterly payout rose from $0.5775 in 2016 to $0.7075, and it has gone up every year in the available record. Verizon outperformed SPY over the past year.

Verizon’s 6.1% Yield and Forward Valuation for Income Investors

Verizon’s current income profile shows up in its yield, payout, and valuation figures. The yield is 6.1%, which uses about 72% of trailing EPS of $3.92. The stock’s forward earnings multiple is roughly 9. Management raised 2026 adjusted EPS guidance to $5.04-$5.06. Schulman said, “We are not buying customers. We are winning them on revenue-positive terms and keeping them longer.”

Debt and competition remain risks to results. Interest expense rose 17.2% year over year, and the Frontier integration is still underway. Verizon holders over the past decade received regular dividend payments, while the index posted a larger total return. Total return includes both price change and dividends.

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