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, 2005, to Verizon Communications shareowners of record at the close of business July 8.

Verizon has approximately 2.7 million shareowners and approximately 2.8 billion shares of common stock outstanding. The company made $1.1 billion in dividend payments in the first quarter 2005, when it increased the quarterly dividend by 2 cents per share to its current level.