Verizon pays the highest cash taxes among major U.S. telecom companies, CNBC reported, citing Wells Fargo analysts, who said the tax law will provide a significant financial boost to the industry.

Shares of Verizon VZ are up 4% in premarket trading Monday, after the company said it expects $19.5 billion to $20.5 billion in free cash flow for the full year, whereas it was previously modeling $17.5 billion to $18.5 billion.