New York City-based Verizon Communications Inc is giving its wireless mobile users a boost in data for the month of April to help people forced to stay at home due to coronavirus outbreak. The 15 GB of data will be automatically added to postpaid and prepaid business and consumer accounts on Verizon’s 4G LTE network. In addition to the additional data, Verizon will have no data caps for business and consumer FiOS and broadband internet plans.
Verizon’s plan to help consumers and businesses also includes the community. The company outlined the following plans.
- Two months waived internet and voice service charges for current Lifeline customers and new affordable internet option for low-income households.
- Provides first responders with priority and preemption abilities for voice and data.
- Expanding work-from-home policy to include reduction of retail locations and hours across the country; closed stores on Sundays; fewer employees working at stores; limiting the number of customers in our stores at one time.
Previously, Verizon announced that it would make upgrades to its network to handle the influx of telecommuters that spiked during coronavirus workplace evacuations.
As a part of its system upgrades, Verizon announced it is increasing its capital guidance range from $17 – $18 billion to $17.5 – $18.5 billion in 2020. This effort will accelerate Verizon’s transition to 5G and help support the economy during this period of disruption.
“We’re looking towards the future and increasing our investments so that we’re poised to offer even more robust networks, to meet future demands, in the years to come,” Hans Vestberg, Verizon Chairman and CEO said. “We are very confident in our company’s ability to meet current demands in providing a great network experience.”
Verizon’s stock has performed well in a volatile bear stock market with minimum losses. During the week of March 23rd the company’s stock averaged about $51.14 per share. In the prior month, prior tot he close of the NYSE trading floor and the market reaching historic lows near 1931, Verizon stock traded at an average of $58 per share.