Verizon Communications announced a quarterly dividend of 53 cents per outstanding share, unchanged from the previous quarter.
In addition, the company's Board authorized the corporation to repurchase up to 100 million shares of its common stock. Under the previous program, which terminated on Feb. 28, 2014, Verizon purchased 3.5 million shares. The new program – which is for the same number of shares and the same three-year duration as the recently expired authorization – will terminate when the aggregate number of shares reaches 100 million or at the close of business on Feb. 28, 2017, whichever is sooner.
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