New York, July 2, 2026, 14:01 (EDT)
- Verizon was at $41.545, off 1.1%, at 1:46 p.m. EDT. Shares moved in a $2.26 range earlier.
- The range was 3.2x its next $0.7075 quarterly payout. That dividend goes ex-div July 10.
- Barron’s says the top three U.S. wireless companies shed $46 billion in market value this week, with Verizon’s loss the biggest at $20.25 billion.
- NYSE was open for trading Thursday. The exchange shows Friday, July 3, as closed for the Independence Day holiday.
Verizon Communications Inc. NYSE:VZ shares slipped Thursday as investors reacted to renewed fears about competition from satellite and cable, a risk not included in the dividend yield.
Verizon shares were off 1.1% at $41.545 at 1:46 p.m. EDT, moving between $40.80 and $43.06 so far today. The $2.26 range is about 3.2x the $0.7075 dividend the company will pay out next quarter. According to Verizon’s schedule, July 10 is the ex-dividend and record date, and the payment is set for Aug. 3.
Right now, the stock pays $2.83 a year, good for a 6.8% yield. Today’s trading range reached about 80% of that yearly payout. That’s the choice income funds face: the yield is big, but the stock can erase months of payout in just a single day.
As of 1:46 p.m. EDT, here’s what the tape showed:
| Company or fund | Ticker | Price | Day move | Intraday range | P/E | Market value |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | NYSE:VZ | $41.545 | fell 1.1% | moved 5.4% | 10.1 | $174.9 bln |
| AT&T Inc. | NYSE:T | $20.135 | down 1.7% | traded in a 5.3% band | 6.8 | $141.7 bln |
| T-Mobile US Inc. | NASDAQ:TMUS | $175.28 | rose 1.3% | 2.7% swing on the day | 18.6 | $193.2 bln |
| Charter Communications Inc. | NASDAQ:CHTR | $132.94 | lost 4.9% | ranged 6.2% | 3.6 | $16.9 bln |
| Space Exploration Technologies Corp. | NASDAQ:SPCX | $157.11 | dipped 0.3% | 3.3% range | n/a | n/a |
| Communication Services Select Sector SPDR Fund | NYSEARCA:XLC | $108.87 | slipped 0.8% | traded across a 1.3% span | n/a | n/a |
Source: latest market quotes.
The second cut is market-cap loss. Barron’s tallied about $46 billion wiped out from the three big U.S. wireless names this week on SpaceX’s mobile push—Verizon down $20.25 billion, AT&T off $15.74 billion, and T-Mobile shedding $10.17 billion. Looking at their latest equity values, Verizon’s hit was 11.6% of its market cap, just above AT&T and more than twice T-Mobile’s ratio.
| Company | Market value erased this week | Current market value | Erased value / current market value |
|---|---|---|---|
| Verizon | $20.25 bln gone | $174.9 bln left | 11.6% |
| AT&T | $15.74 bln lost | $141.7 bln | 11.1% |
| T-Mobile | $10.17 bln wiped | $193.2 bln | 5.3% |
The blow to Verizon is roughly 1.7 times its estimated yearly dividend payout, based on its current share count from its market cap and price. That’s what’s new in the story. The market is taking out more than a year’s worth of dividend value, not just cutting the multiple.
SpaceX and Charter have discussed a U.S. consumer mobile phone offer at the executive level, according to Reuters, which cited Bloomberg News last week. Charter would not comment to Reuters, while SpaceX did not respond. Reuters also said SpaceX has told investors it wants to roll out a Starlink mobile service for U.S. customers, which could put it in competition with Verizon, AT&T and T-Mobile.
Oppenheimer’s Timothy Horan called SpaceX the “only vertically integrated AI company” with enough capital, data, hardware and engineering talent, Reuters reported. Michael Field at Morningstar was more cautious. He said demand for SpaceX shares is high, but his firm thinks “the stock is overvalued.” Reuters
Verizon has some operating tailwinds. In April, the company posted 55,000 net adds for postpaid phones in the first quarter, breaking a streak of first-quarter losses going back to 2013, and bumped its 2026 adjusted EPS outlook up to $4.95 to $4.99. CEO Dan Schulman pointed to “lower churn” and noted this was the first positive Q1 postpaid phone net adds “in over a decade.” Verizon
Verizon’s second quarter won’t be as clean as hoped. In a June 29 filing, Verizon said its international wireline venture with BT Group plc (LON:BT.A) involves a $625 million cash payout and an even 50% split. Verizon also warned of an expected loss of $700 million to $800 million from moving the business to held-for-sale. The company sees $350 million to $450 million in severance costs and another $200 million to $300 million of asset rationalization expenses.
That’s a total of $1.25 billion to $1.55 billion in charges Verizon expects for the second quarter, not counting tax effects or other adjustments. Verizon’s second-quarter earnings are due out July 24, with the webcast scheduled for 8:30 a.m. ET.
The NYSE regular session is open 9:30 a.m. to 4:00 p.m. ET. The exchange will be shut on Friday, July 3, for the Independence Day holiday.
