Wednesday, February 6, 2008

Verizon Announces Common Stock Repurchase Authorization

Verizon Communications' Board of Directors has authorized the corporation to repurchase 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, 2010, approval remained to purchase approximately 30 million shares.

Approximately 2.9 billion shares of Verizon common stock are outstanding.