Verizon to Exit Dow Jones on June 29, Shares Drop 0.45% After-Hours
VZ•Verizon will be removed from the Dow Jones Industrial Average and replaced by Alphabet effective before June 29, prompting a 0.45% after-hours decline in its shares. Its roughly 0.5% weight in the price-weighted index highlights its limited impact on DJIA composition.
1. Replacement Details
S&P Dow Jones Indices will remove Verizon Communications from the Dow Jones Industrial Average before trading opens on June 29, replacing it with Alphabet to broaden the index’s exposure to AI, cloud computing and digital services.
2. Verizon's Index Weight
Verizon accounted for approximately 0.5% of the DJIA’s total weighting due to its lower share price under the price-weighted methodology, limiting its influence on overall index performance.
3. Share Reaction
Following the announcement, Verizon shares declined 0.45% in after-hours trading, reflecting market adjustment to the impending exclusion from the Dow Jones Industrial Average.
