Buffett, Verizon & Income: Your Early Triple Crown Winner
Even though the Preakness Stakes won’t be run until tomorrow, investors have a shot at their own triple-crown winner today. By picking up shares of Verizon (VZ) today, they’ll also be investing alongside the Oracle of Omaha, Warren Buffett, who recently bought a stake in VZ valued at $528 million through Berkshire Hathaway (BRK/A). And both of you will have bought into a company that recently jumpstarted its cash flow by buying out Vodafone Group Plc’s minority stake in Verizon Wireless for $130 billion. The kicker to this deal is that both of you will receive a healthy 4.4 percent dividend yield while awaiting VZ profits to roll in. Buffett, Verizon and Income: that’s today’s triple-crown winner.