Verizon Communications Ups Quarterly Dividend 2.9%

(RTTNews) - Verizon Communications Inc. (VZ) on Monday declared a quarterly dividend of $0.53 per share, an increase of $0.015 per share, or 2.9%, from the previous quarter. On an annual basis, this increases Verizon's dividend by $0.06 per share, from $2.06 to $2.12 per share.

The quarterly dividend is payable on November 1 to Verizon Communications shareowners of record on October 10.

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

Verizon has about 2.7 million shareowners and about 2.9 billion shares of common stock outstanding. The company made $2.9 billion in dividend payments through the first half of 2013.