Verizon: The 'Pay Raise' Was Nice, But There Is More To The Story

Summary Points:

- Verizon recently increased its quarterly dividend by ~2% - i.e., shareholders got a pay raise.

- This telecom company should now no longer be viewed as just an income play.

- I plan to stay long Verizon; how about you?

Verizon ($VZ) recently announced a quarterly dividend increase of 2.1% (from $0.59 to $0.6025), which brings the stock's forward yield to a rich 4.4%. As a shareholder, I love getting a "pay raise" but, in my opinion, there is a lot more to like about Verizon as a long-term investment than just a slow-growing dividend.