Verizon Wireless Issues $8.5 Billion Dividend

The management and shareholders of Vodafone, the minority shareholder of Verizon Wireless had a good day. The largest cellular carrier in the U.S. issued an $8.5 billion dividend to its two holders, which includes Verizon Communications (NYSE: VZ)

Verizon Wireless announced:

its Board of Representatives has declared distributions aggregating $8.5 billion to its owners, which are payable on or prior to December 31, 2012. The distributions will be paid in one or more tranches, with each tranche paid in proportion to the owners’ partnership interests on the payment date.

Verizon Wireless is a joint venture between Verizon Communications Inc., which owns 55 percent of the partnership, and Vodafone Group Plc, which owns 45 percent of the partnership

Douglas A. McIntyre