Verizon Communications Raises Quarterly Dividend 3.8 Percent to 55 Cents per Share

Eighth Consecutive Year Board Has Approved an Increase

NEW YORK – The Board of Directors of Verizon Communications Inc. (NYSE, Nasdaq: VZ) today declared a quarterly dividend of 55 cents per outstanding share, an increase of 2 cents per share, or 3.8 percent, from the previous quarter. On an annual basis, this increases Verizon's dividend by 8 cents per share, from $2.12 to $2.20 per share.

The quarterly dividend is payable on Nov. 3, 2014, to Verizon Communications shareowners of record at the close of business on Oct. 10, 2014.

This is the eighth consecutive year that Verizon's Board of Directors has approved a quarterly dividend increase.

Verizon has approximately 4.1 billion shares of common stock outstanding. The company made $3.6 billion in cash dividend payments in the first half of 2014.