Verizon Expands 100 Million Share Buyback Plan (VZ)

Posted: February 7, 2008 at 12:08 pm

Verizon Communications Inc. (NYSE: VZ) has announced that its Board of Directors has approved the buyback and repurchase up to 100 million shares of its common stock.  This replaces the previous 100 million share buyback plan, of which there were some 30 million shares.  The prior plan was due to expire on Feb. 28, 2010, and this new extended buyback plan is set to expire on Feb. 28, 2011.

Verizon noted that it has roughly 2.9 Billion shares outstanding.  At today’s share prices, this represents roughly $3.6 Billion for share buybacks.

Jon C. Ogg
February 7, 2008

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