Verizon to Exit Dow Jones Industrial Average on June 29, Replaced by Alphabet
VZ sits 19% above its 52-week low of $38.39.
Summary
Verizon will be removed from the Dow Jones Industrial Average on June 29, 2026, with Alphabet replacing it. This is a material event for a large-cap company, as it typically triggers forced selling by index funds that track the average, potentially creating downward pressure on the stock. This news comes after a period of strong Q1 results and operational turnaround for Verizon, as detailed in recent SEC filings. The company's ~6% dividend yield is noted as free cash flow-backed, and it executed $2.5 billion in share buybacks in Q1, with an additional $0.5 billion planned.
At the time of this announcement, VZ was trading at $45.50 on NYSE in the Trade & Services sector, with a market capitalization of approximately $191B. The 52-week trading range was $38.39 to $51.68. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.