Power Lunch

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Power Lunch

Power Play: Dividend growth with Verizon

Customers enter a Verizon wireless store in New York.
Jin Lee | Bloomberg | Getty Images

Stocks are higher on Monday, with the Dow trying for its seventh consecutive day of gains. This would be the longest win streak for the Dow since March 11-March 21. The Dow, and Nasdaq are up more than 2 percent since the post-Brexit vote losses two weeks ago.

Despite this move, Bryn Mawr Trust Chief Investment Officer Ernie Cecilia tells CNBC's "Power Lunch" the broad equity market indices are still fairly valued.

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"We remain overweight U.S. and believe that companies with strong balance sheet metrics that can return investment to shareholders in the form of dividends and, more importantly dividend growth, will perform better in the environment ahead," Cecilia said.

One company is likes long-term is Verizon. "The stock has a 4 percent current yield and has been growing its dividend 3 percent over the last 5 years, but double-digit over the last 3 years," Cecilia said.

Verizon is up 20 percent year-to-date.