$VZ Agrees to Pay a $7B Dividend

“Verizon Wireless, the mobile-phone joint venture of Verizon Communications Inc. (VZ) andVodafone Group Plc (VOD), plans to pay a $7 billion dividend to its co-owners, defusing a source of tension between the two companies.

Verizon, which owns 55 percent of the business, will receive $3.85 billion, while Vodafone, owner of the rest, will get $3.15 billion, according to a filing yesterday. The dividend will be paid on June 25….”

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