Verizon Wireless to pay $10B dividend to parents
Verizon Wireless said yesterday it plans to pay a $10 billion dividend to its two parents, Verizon Communications and Vodafone Group, early next year.
The long-awaited payout comes after years of clamoring from Vodafone shareholders, who felt they had received little from the cash-generating machine that is Verizon Wireless. Over the past few years, Verizon, which owns a 55 percent stake in the wireless business, has used the cash to fund other initiatives, including the purchase of spectrum and the acquisition of Alltel.
Based on their respective ownership positions, Verizon will get $5.5 billion and Vodafone will get $4.… Read more