Verizon Wireless to pay USD7bn dividend to parents

14 May 2013

The largest US mobile operator by subscribers, Verizon Wireless, has announced that it will pay a dividend of USD7 billion in June to its parents Verizon Communications (owner of a 55% stake in the cellco) and Vodafone Group (owner of the remaining 45% stake). The size of the payout is greater than some analysts initially expected after Verizon Communications CEO Lowell McAdam had earlier indicated that the two parents could face a ‘lean’ year in terms of the Verizon Wireless dividend. Given their respective ownership stakes, Verizon Communications will receive cash payments of USD3.85 billion, while Vodafone will receive USD3.15 billion.

United States, Verizon Communications, Verizon Wireless, Vodafone Group