Key Developments: Verizon Communications Inc (VZ)
52.07USD
21 May 2013
$-0.67 (-1.27%)
$53.35
$52.68
$52.78
$51.95
11,222,418
13,356,555
$54.31
$40.51
Latest Key Developments (Source: Significant Developments)
Verizon Communications Inc Declares Quarterly Dividend
Verizon Communications Inc announced that it has declared a quarterly dividend of 51.5 cents per outstanding share, unchanged from the previous quarter. The dividend is payable on May 1, 2013, to Verizon Communications shareowners of record at the close of business on April 10, 2013. Full Article
Verizon Communications Inc, Vodafone Group Plc Mull Verizon Wireless Options-Reuters
Reuters reported that Verizon Communications Inc has weighed several options involving its relationship with Vodafone Group Plc and its joint ownership of Verizon Wireless ranging from ending its wireless venture with the European company to a full merger with Vodafone, Bloomberg reported. The U.S. and UK mobile-phone operators discussed a full combination as recently as December, according to Bloomberg. The talks stalled over issues of leadership and location of a new company, making a buyout or partial sale of Vodafone's stake in Verizon Wireless more likely. Verizon Communications holds a 55% stake in Verizon Wireless. Vodafone owns the rest. Vodafone has embarked on a program to sell assets it did not control, aiming to streamline its portfolio and return cash to shareholders who felt the company's share price did not reflect the sum of its many individual assets. Full Article
AT&T Inc To Buy Wireless Airwaves From Verizon Spectrum, Venture Of Verizon Communications Inc And Vodafone Group Plc-Reuters
Reuters reported that AT&T Inc said it has agreed to buy wireless airwaves from Verizon Wireless for $1.9 billion in cash and spectrum licenses in five markets. It expects to close the deal in the second half of 2013. Verizon Wireless is a venture of Verizon Communications Inc and Vodafone Group Plc Full Article
Verizon Communications Inc Declares Quarterly Dividend
Verizon Communications Inc announced that it declared a quarterly dividend of $0.515 per outstanding share, unchanged from the previous quarter. The dividend is payable on February 1, 2013 , to Verizon Communications shareowners of record at the close of business on January 10, 2013 . Full Article
Verizon Communications Inc's Retirees Sue To Stop Transfer Of Pensions-AP
Associated Press reported that Verizon Communications Inc's retirees are suing the phone company because it's planning to transfer the responsibility to pay their pensions to an insurance company, where they will have fewer legal protections. Verizon Communications Inc. said last month that it would transfer $7.5 billion of its pension obligations, covering 41,000 management retirees, to Prudential Insurance. The deal effectively turns the Company's defined-benefit pensions into annuities. The Association of BellTel Retirees sued in federal court in Dallas, seeking a court order to halt the deal, which is set to close in December. They note that annuities aren't covered by the federal Pension Benefit Guaranty Corp. Full Article
TiVo Inc Announces Settlement Of Patent Litigation With Verizon Communications Inc.
TiVo Inc announced that it has settled its pending patent litigation with Verizon Communications Inc. and that the companies have entered into a mutual patent licensing arrangement. Under the terms of the settlement, Verizon will provide TiVo total compensation worth at least $250.4 million. The payments from Verizon to TiVo shall be comprised of a $100 million initial cash payment followed by recurring quarterly payments totaling an additional $150.4 million through July 2018. If the companies pursue certain commercial initiatives prior to December 21, 2012, up to $29.4 million of the payments made by Verizon would be subject to a credit of an equal amount. In addition to the guaranteed compensation, Verizon will also pay monthly license fees through July 2018 for each Verizon DVR subscriber in excess of certain pre-determined levels. Full Article
Verizon Communications Inc Raises Quarterly Dividend
Verizon Communications Inc announced that it declared a quarterly dividend of $0.515 per outstanding share, an increase of $0.015 per share, or 3.0%, from the previous quarter. On an annual basis, this increases Verizon's dividend $0.06 per share, from $2.00 to $2.06 per share. The quarterly dividend is payable on November 1, 2012, to Verizon Communications shareowners of record at the close of business on October 10, 2012. Full Article
Verizon Communications Inc. Completes Acquisition of HUGHES Telematics, Inc.
Verizon Communications Inc. announced that it closed its previously announced acquisition of HUGHES Telematics, Inc.(HTI), setting Verizon on a course to accelerate growth through the delivery of advanced automotive and fleet telematics and machine-to-machine services. The acquisition was completed through a merger under Delaware law of a wholly owned subsidiary of Verizon with HTI, with HTI surviving the merger. As a result of the merger, all outstanding shares of HTI have been canceled, and all shares that are quoted on the OTC bulletin board under the symbol HUTC and publicly tradable have been converted into the right to receive $12 per share in cash without interest and subject to any required withholding of taxes. With the closing of the transaction, the common stock of HTI ceased to be quoted on the OTC Bulletin Board as of market close on July 25, 2012. Verizon plans to retain HTI's existing management team and operate the new unit as a subsidiary and as part of the Verizon Enterprise Solutions group. The business will continue to be headquartered in Atlanta. Full Article
Hydro Refines Global Supply Chain With Verizon Communications Inc.
Verizon Communications Inc. announced that Hydro and Verizon have entered into an agreement under which Verizon will deliver a managed global wide area network with integrated security and remote access solutions, an integrated partner firewall to enable third-party access to select business solutions and full professional service support. Network and security monitoring is offered on a follow-the-sun basis from Verizon's global network and security operations centers in Dortmund, Germany; Singapore; Ashburn, Va. and Sao Paolo. The contract covers the transition of services from the existing provider and three years of operation. Full Article
Verizon Communications Inc. Declares Quarterly Dividend
Verizon Communications Inc. announced that its Board of Directors declared a quarterly dividend of $0.50 per outstanding share, unchanged from the previous quarter. The dividend is payable on Aug. 1, 2012, to Verizon Communications shareowners of record at the close of business on July 10, 2012. Full Article
Vodafone says comfortable with Verizon Wireless status quo
LONDON - Vodafone said on Tuesday that it was very comfortable with its successful U.S. joint venture Verizon Wireless, but if an offer materialized that would benefit it more than the status quo, it would consider it.
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