Verizon Wireless Agrees to Pay Its Owners $10 Billion
Verizon Wireless has approved a $10 billion payout to Verizon Communications Inc. and Vodaphone Group Plc. Bloomberg Businessweek reports that the payment will be distributed between the two based on their ownership stakes in the company, which is 55% and 45%, respectively. Verizon Wireless hasn’t paid dividends to its owners in a few years, as the company has been focusing its expenditures on paying down debt.
The payout will occur on January 31st.