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 Feb. 1, 2006, to Verizon Communications shareowners of record at the close of business on Jan. 10, 2006.

Verizon has approximately 2.7 million shareowners and approximately 2.8 billion shares of common stock outstanding. The company has made $3.3 billion in dividend payments through the first nine months of 2005. The quarterly dividend increased by 2 cents per share to its current level in the first quarter of 2005.

Verizon Communications Inc., a Dow 30 company, is a leader in delivering broadband and other communication innovations to wireline and wireless customers. Verizon operates America's most reliable wireless network, serving 49.3 million customers nationwide, and one of the nation's premier wireline networks, serving home, business and wholesale customers in 28 states. Based in New York, Verizon has a diverse workforce of nearly 215,000 and generates annual revenues of more than $71 billion from four business segments: Domestic Telecom, Domestic Wireless, Information Services and International. For more information, visit www.verizon.com.