Verizon Communications Declares Quarterly Dividend

NEW YORK -- The board of directors of Verizon Communications Inc. (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, unchanged from the previous quarter.

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