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- Streaming Now: The Dividend Compounder Hiding in Plain Sight
Streaming Now: The Dividend Compounder Hiding in Plain Sight
Noah Zelvis
October 17, 2025
In partnership with
It’s not often a media and communications heavyweight combines steady cash flow with consistent dividend growth, but this one has managed exactly that.
Reliable, diversified, and quietly rewarding, it’s built to pay well over time. Are you in?
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When you think of Comcast Corporation (CMCSA), your mind probably jumps to cable boxes and broadband bundles, but there’s a much bigger story unfolding behind the scenes.
Over the past few years, this media and connectivity powerhouse has quietly transformed itself with new ventures, including streaming, theme parks, high-speed internet, and wireless.
In short, it’s firing on multiple cylinders.
What’s more, management hasn’t forgotten about shareholders.
This stock’s growing dividend, backed by steady earnings and aggressive share buybacks, is becoming one of the more overlooked income plays in the communications space. Is it on your radar?
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Thriving on scale
Comcast is a business that thrives on scale and knows precisely how to use it.
Its broadband and connectivity arm remains the powerhouse, spinning off those reliable, high-margin cash flows that fuel expansion into new arenas.
And diversification is no longer just a buzzword here — it's a strategy in full swing.
The company has leaned deeper into content creation and its fast-growing theme park division, building a mix of assets that's as entertaining as it is profitable.
That shift is clearly paying off.
Comcast’s streaming platform keeps gaining traction, offsetting the slow fade of traditional cable, while its wireless arm has quietly become a meaningful growth engine with steady subscriber gains.
Recent earnings told the story in numbers: revenue rose 2.1% year over year, and adjusted net income jumped to $11.1 billion — boosted by a $9.4 billion gain from the sale of its Hulu stake — compared to $3.9 billion in the same period last year.
Broadband subscriptions returned to growth, average revenue per user climbed, and theme parks delivered 18.9% gains on the back of packed turnstiles and higher per-guest spending.
Free cash flow? Still rock solid at $4.2 billion.
That’s more than enough to cover a growing dividend and a healthy round of share buybacks.
Action: Think of this as a slow burner that will reward your patience with cheques that arrive like clockwork once per quarter. |
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A yield of 4.51%
CMCSA currently pays 33 cents per share quarterly, translating to a yield of around 4.51%. It has raised the payout for 18 consecutive years, reflecting management's confidence in the cash flow engine behind it.
With free cash flow comfortably outpacing dividend obligations, there's room for those increases to keep coming.
In an industry often known for heavy investment cycles, Comcast is beginning to stand out for its ability to turn steady profits into a reliable, growing income stream for shareholders.
Action: If you appreciate the steady as well as the spectacular, this 4.51% yield has ‘invest’ written all over it, especially if you can move in on market pullbacks that push the yield higher. |
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The biggest risk for dividend investors
The biggest risk for dividend investors is that Comcast's growth engines aren't all firing at once.
Cord-cutting continues to weigh on the legacy cable segment. While broadband and wireless are offsetting some of that pressure, competition from fibre providers and 5G home internet is intensifying.
Consumer theme park spending declined by around 5% overall this summer, which could restrict growth.
Content spending for the streaming platform also remains high, squeezing margins in a space dominated by deep-pocketed rivals.
Add in the capital demands of network upgrades and theme park expansion, and there’s always a risk that free cash flow could come under pressure during a weaker earnings cycle.
While the dividend is well covered today, any sustained slowdown in broadband growth or a sharp rise in costs could limit the pace of future increases, or at least make management more cautious with buybacks.
Poll: What’s the most dangerous kind of optimism? |
A compounder that rewards patience
So, should you buy this stock? If you're looking for a steady income with a side of resilience, Comcast fits the bill.
This isn't a get-rich-quick stock. It’s a compounder that rewards patience.
The company’s diversified model, strong free cash flow, and 18-year streak of dividend hikes suggest the payout is not just safe but likely to keep growing.
Add in regular buybacks and disciplined balance sheet management, and you're getting consistent value returned year after year.
Action: The strategy here is simple: buy on weakness and hold for the long haul. |
That’s all for today’s edition of the Dividend Brief.
Thanks for reading, and if you have any feedback or dividend stocks you want me to take a look at, just reply to this email!
—Noah Zelvis
DividendBrief.com