Verizon Communications Raises Quarterly Dividend 3 Percent to 51.5 Cents per Share

The Board of Directors of Verizon Communications Inc. (NYSE, Nasdaq: VZ) today declared a quarterly dividend of 51.5 cents per outstanding share, an increase of 1.5 cents per share, or 3.0 percent, from the previous quarter.  On an annual basis, this increases Verizon's dividend 6 cents per share, from $2.00 to $2.06 per share.

The quarterly dividend is payable on Nov. 1, 2012, to Verizon Communications shareowners of record at the close of business on Oct. 10, 2012.

This is the sixth consecutive year that Verizon's Board of Directors has approved a quarterly dividend increase.  Increases were 2.6 percent in each of the past two years.

"Today's action by Verizon's board marks another milestone in Verizon's ongoing commitment to generate sustained value for our shareholders," said Francis J. Shammo, Verizon executive vice president and chief financial officer.  "We are confident in Verizon's strong operating performance and cash flow generation, providing the board the flexibility to increase our dividend while we continue to invest in long-term growth."

Verizon has approximately 2.7 million shareowners and approximately 2.9 billion shares of common stock outstanding.  The company made $2.6 billion in dividend payments through the first half of 2012.

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers.  Verizon Wireless operates America's most reliable wireless network, with more than 94 million retail customers nationwide.  Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500.  A Dow 30 company with $111 billion in 2011 revenues, Verizon employs a diverse workforce of more than 188,000.  For more information, visit www.verizon.com.