VZ stock after CEO shake-up: outlook, dividend, and earnings

TL;DR:

Verizon named Dan Schulman CEO on Oct 6, 2025, replacing Hans Vestberg.
Shares wobbled, then settled near the high-6% dividend yield.
Dividend was raised to $0.69 per quarter, record date Oct 10, pay Nov 3.
Q3 2025 results arrive Wednesday, Oct 29, before market open.
Near term, watch churn, 5G FWA adds, and free-cash-flow coverage.

On October 6, 2025, Verizon appointed Dan Schulman, former PayPal CEO and long-time Verizon board member, as chief executive. Hans Vestberg shifted to special adviser through October 2026 and remains on the board until the 2026 annual meeting. Verizon also reiterated full-year 2025 guidance the week of the announcement. Independent outlets reported the market’s mixed reaction, with VZ sliding on the headline before stabilizing.

The leadership move comes ahead of third-quarter results due on Wednesday, October 29, 2025, before the opening bell. Management will hold a call at 8:30 a.m. ET.

Why it matters for VZ stock

Leadership resets can reframe strategy. Schulman is known for product focus and cost discipline. For VZ, near-term stock drivers still hinge on three metrics:

Postpaid phone net adds and churn. Subscriber quality and churn trend drive service revenue and margin.
Fixed Wireless Access adds. FWA remains Verizon’s fastest-growing broadband product.
Free cash flow and leverage. Dividend coverage and debt paydown set the floor for valuation.

If Verizon shows steady phone churn, healthy FWA growth, and solid free cash flow on Oct 29, the current yield could anchor the shares. A stumble on any of these could pressure the stock.

Dividend, yield, and payout safety

Verizon lifted its quarterly dividend to $0.69 per share on September 5, 2025. The ex-dividend date was October 10, 2025, and the payment date is November 3, 2025. Management’s steady annual raises, even if modest, signal confidence in cash generation.

What to watch:

Dividend coverage: Free cash flow minus capex versus cash dividends.
Debt trajectory: Net debt reduction supports equity value and protects the payout during industry downdrafts.
Rate sensitivity: Higher rates raise interest expense and can compress income-stock valuations.

Near-term setup into Q3 earnings

With results on October 29, 2025, the market will parse:

Service revenue growth vs. upgrade activity and promotions.
FWA net adds and any comments on capacity or spectrum utilization.
Cost saves or restructuring signals from the new CEO.
Capital spending cadence after C-band buildouts.
Full-year guidance updates, if any.

If Schulman outlines a crisp operating plan and reaffirms cash-flow power, the stock could re-rate toward peers over the next 3 to 12 months. If guidance tightens or churn ticks up, expect another leg of volatility.

Valuation snapshot

Income investors still drive VZ flows. The forward yield sits in the high-6% range. Historically, when yield approaches 7% and cash coverage looks intact, dip-buyers emerge. For total-return investors, a re-rating case needs better line-of-sight to service revenue growth and debt reduction.

Strategy ideas by investor type

Income-first: Consider core holdings sized for yield, with room to add on earnings dips if cash coverage remains sound.
Total return: Wait for proof points on churn and FWA, or for a post-earnings reset.
Event-driven: Watch the Oct 29 call for any portfolio or cost structure moves under Schulman.

Risks

Competitive intensity: Price moves by AT&T and T-Mobile can dent net adds and ARPU.
Capital needs: Network investments and spectrum obligations still matter, even as C-band peaks fade.
Macro and rates: High rates can cap multiple expansion and raise financing costs.
Execution on strategy: New leadership transitions carry integration and culture risk.

Quick checklist before Oct 29

Item	Bullish if…	Cautious if…
Postpaid phone churn	Flat to lower	Higher
FWA net adds	Strong, with capacity headroom	Slowing or capacity-constrained
Free cash flow	Covers dividend with a buffer	Coverage tightens
Guidance	Reaffirmed or raised	Trimmed
Balance sheet	Net debt down	Leverage flat or up

Why it matters

VZ is a cornerstone income name. A credible operating plan from new leadership, plus steady cash, can support yield and modest upside. Weak churn or cash flow could keep the stock range-bound. The next inflection point is the October 29, 2025 report.

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