The board of directors of Verizon Communications Inc. (NYSE, Nasdaq: VZ) has declared a quarterly dividend of USD 0.5775 per outstanding share, unchanged from the previous quarter, the company said.
The dividend is payable on May 1, 2017, to Verizon shareowners of record at the close of business on April 10, 2017.
Verizon has approximately 4.1bn shares of common stock outstanding. The company made USD 9.3bn in cash dividend payments in 2016.
Verizon´s board also authorized the corporation to repurchase up to 100m shares of its common stock. Verizon´s previous program, which expired on Feb. 28, 2017, also had authorized the repurchase of 100m shares.
Under the prior authorization, 2.8m shares were repurchased. The new program will terminate when the aggregate number of shares purchased reaches 100m, or at the close of business on Feb. 28, 2020, whichever is sooner.
Verizon Communications, headquartered in New York City, has a diverse workforce of 160,900 and generated nearly USD 126bn in 2016 revenues. Verizon operates America´s most reliable wireless network, with 114.2m retail connections nationwide. The company also provides communications and entertainment services over mobile broadband and the nation´s premier all-fiber network, and delivers integrated business solutions to customers worldwide.