Verizon Communications Declares Quarterly Dividend

NEW YORK -- The board of directors of Verizon Communications Inc. (NYSE:VZ) has declared a quarterly dividend of $.385 per outstanding share, unchanged from the previous quarter.

The dividend is payable on May 1, 2001 to Verizon Communications shareowners of record at the close of business April 10. Verizon Communications has approximately 2.7 million individual shareowners and approximately 2.7 billion shares of common stock outstanding.

Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with nearly 109 million access line equivalents and more than 27.5 million wireless customers. Verizon is also the world's largest provider of print and online directory information. A Fortune 10 company with approximately 260,000 employees and more than $63 billion in annual revenues, Verizon's global presence extends to 40 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit www.verizon.com