Wednesday, February 28, 2007

Verizon to Repurchase up to 100 Million Shares

Verizon Communications' Board of Directors authorized the repurchase of up to 100 million shares of its common stock. The board also determined that no additional shares may be acquired under a previously approved program to repurchase up to 100 million shares. Under the previous program, which was due to end Feb. 28, 2008, approval remained to purchase approximately 43 million shares.

Approximately 2.9 billion shares of Verizon common stock are outstanding.