NEW YORK, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The Board of Directors at Verizon Communications Inc. ((NYSE, NASDAQ:VZ) today declared a quarterly dividend of 66.50 cents per outstanding share, an increase of 1.25 cents per share from the previous quarter. The quarterly dividend is payable on November 1, 2023, to Verizon shareholders of record at the close of business on October 10, 2023.

This is the 17th consecutive year Verizon's Board has approved a quarterly dividend increase.

"Our consistently disciplined approach to driving strong cash flow, operating the business, and serving our customers has once again put the Board in a position to raise the dividend," said Chairman and CEO Hans Vestberg. "We continue to deliver value to our shareholders as we execute our network-as-a-service strategy."

Verizon has 4.2 billion shares of common stock outstanding. The company made approximately $5.5 billion in cash dividend payments in the first half of 2023.

Verizon Communications Inc. ((NYSE, NASDAQ:VZ) was formed on June 30, 2000 and is one of the world's leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $136.8 billion in 2022. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers' demand for mobility, reliable network connectivity, security and control.

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Media contact:

Eric Wilkens

eric.wilkens@verizon.com

201-572-9317

@ericwilkens

Verizon increases dividend for 17th consecutive year