Verizon Communications Declares Quarterly Dividend

NEW YORK, September 7, 2000 - The board of directors of Verizon Communications (NYSE:VZ), the national communications company formed through the merger of Bell Atlantic Corp. and GTE Corp., today declared a quarterly dividend of $.385 per outstanding share.

The Verizon dividend is unchanged from the pre-merger Bell Atlantic dividend. Since GTE shareowners received 1.22 shares of common stock in Verizon for each share of GTE they held, their dividend payment (1.22 times $.385 per share) is equivalent to the former GTE quarterly dividend of $.47 per share.

The dividend is payable on Nov. 1 to Verizon Communications shareowners of record at the close of business on Oct. 10. Verizon Communications has approximately 2.7 million individual shareowners and approximately 2.7 billion shares of common stock outstanding.

Tags: