Verizon Communications (VZ) is the largest wireless telecom provider in the U.S. by the number of subscribers, notes Rida Morwa, income specialist and editor of High Dividend Opportunities.

Recently, the company was awarded the best in network quality by J.D. Power for the 28th time in a row and was also named the most reliable 5G network in the U.S. by RootMetrics. It is no secret that Verizon is seldom the cheapest choice for a wireless provider.

Still, quality is the backbone of Verizon's business, and its customer satisfaction has consistently remained top-notch. Renowned investor Philip Fisher says high-quality companies with satisfied customers make excellent investments, and Verizon fits that requirement today.

The U.S. wireless market is a virtual oligopoly, with only three companies having over 90% market share. We live in a data-hungry world where the global average usage per smartphone exceeds 10GB/mo. This number is forecast to reach 35GB/mo by the end of 2026, meaning more revenue from existing customers.

Verizon is well-positioned to secure tailwinds this growth in the U.S. along with strong demand from disruptive technology. For example, automobiles are becoming increasingly software-oriented, with heavy reliance on Over-The-Air ('OTA') updates, making reliable wireless connectivity critical for the to-be-autonomous vehicular infrastructure.

Audi (AUDVF) recently inked a partnership with Verizon for its vehicle-to-everything roadmap. Verizon is also positioning itself as the aggregator of your metaverse and streaming needs through the recent launch of Plus Play, providing consolidated access to popular services.

For the past two decades, Verizon has rewarded shareholders with growing dividends. The wireless company has raised dividends annually for 15 years and today boasts a 5% dividend yield. The company’s yield also comes at the lowest payout ratio in the wireless industry.

Verizon's balance sheet carries an A- credit rating, and the company has made excellent use of the low-interest environment over the past two years. Its effective interest rate has dropped to 3.6% (from 4.1% in 2020). In a recent interview, Verizon CEO Hans Vestberg said continuing to grow the dividend is a top priority for the company.

I don't know if Facebook (FB) or Roblox (RBLX) will dominate the metaverse. I don't know if the autonomous vehicle future will be dominated by Tesla (TSLA), Apple (AAPL), or some other company. But I know that reliable wireless connectivity will be the backbone for most of these innovations, and Verizon represents the best-in-class wireless provider in the U.S. Sit back and let these innovations pay you growing dividends.

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