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 Nov. 1, 2006, to Verizon Communications shareowners of record at the close of business on Oct. 10, 2006.

Verizon has approximately 2.7 million shareowners and approximately 2.9 billion shares of common stock outstanding. The company made $2.4 billion in dividend payments in the first half of 2006.