Verizon to pay $8.5B dividend

Published Nov 13, 2012 at 04:00AM

Verizon Wireless said Monday that it will pay a dividend of $8.5 billion next month to its owners, Verizon Communications Inc. and Vodafone Group PLC., by the end of the year.

It’s the second dividend payment from Verizon Wireless this year. In January, Verizon Wireless ended a policy of using its cash to pay down debt, which freed up money to pay a $10 billion dividend to both owners.

Vodafone, a British cellphone company with wide international interests, owns 45 percent of the very profitable Verizon Wireless, the largest cellphone carrier in the U.S. Yet until January, Vodafone hadn’t received any cash from the U.S. carrier in years.

— From wire reports

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