Verizon Communications Declares Quarterly Dividend

NEW YORK - The Board of Directors of Verizon Communications Inc. (NYSE:VZ) today declared a quarterly dividend of 40.5 cents per outstanding share, unchanged from the previous quarter. The dividend is payable on Aug. 1, 2006, to Verizon Communications shareowners of record at the close of business on July 10, 2006.

Verizon has approximately 2.7 million shareowners and approximately 2.9 billion shares of common stock outstanding. The company made $4.4 billion in dividend payments in 2005.