Verizon Communications Declares Quarterly Dividend

NEW YORK - The Board of Directors of Verizon Communications Inc. (NYSE:VZ) today declared a quarterly dividend of 46 cents per outstanding share, unchanged from the previous quarter.  The dividend is payable on Feb. 2, 2009, to Verizon Communications shareowners of record at the close of business on Jan. 9, 2009.

In September 2008, Verizon's Board had increased the dividend 7 percent to its current level, beginning with dividends paid last month.  Through the first three quarters of 2008, the company paid dividends totaling nearly $3.7 billion.  Verizon has approximately 2.4 million shareowners and approximately 2.8 billion shares of common stock outstanding.