Feb 24 Verizon Communications Inc said it
was targeting a higher adjusted EBITDA margin and 4 percent
revenue growth for 2014 after it completed the acquisition of
Vodafone Group's 45 percent stake in their Verizon
Wireless joint venture.
The margin on adjusted earnings before interest, tax,
depreciation and amortization was 34.9 percent in 2013, while
revenue growth was 4.1 percent.
Shareholders of Vodafone and Verizon approved the $130
billion takeover in January, paving the way for the
third-biggest deal in corporate history.
Verizon said on Monday it expected to reduce debt and fund
network investments this year with continued strong cash flows,
which would also support its dividend policy.
Evercore Partners analyst Jonathan Schildkraut said
Verizon's equipment instalment plans, which allow customers to
upgrade to new phones and pay for them in instalments, could
lead to better EBITDA margins, but at the expense of short-term
Verizon, which had net debt of $40.1 billion as of Dec. 31,
2013, raised its quarterly dividend by 2.9 percent to 53 cents
per share in September and said that providing a strong dividend
would remain a priority.