Verizon Wireless to pay its parents $7 bln dividend in June

Mon May 13, 2013 4:56pm EDT

May 13 (Reuters) - Verizon Wireless said on Monday it would pay its parents Verizon Communications and Vodafone Group Plc a dividend of $7 billion in June.

Based on Verizon's 55 percent ownership of the venture and Vodafone's 45 percent stake, this will entitle Verizon to cash payments of $3.85 billion while Vodafone will receive $3.15 billion, according to a regulatory filing from the company.

The Verizon Wireless board decided on the dividend on May 9.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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