Wednesday, September 2, 2009

Verizon Raises Quarterly Dividend 3.3%

The Board of Directors of Verizon Communications declared a quarterly dividend of 47.5 cents per outstanding share, an increase of 1.5 cents per share, or 3.3 percent, from the previous quarter. On an annual basis, this increases Verizon's dividend 6 cents per share, from $1.84 to $1.90 per share.

"This increase reflects the strength of our cash flow and balance sheet," said Ivan Seidenberg, Verizon chairman and chief executive officer.