US mobile network Verizon Wireless has announced that it’ll pay its owners a $7 billion dividend on 25th June. The company is jointly owned by Verizon Communications (55%) and Vodafone (45%), which means Vodafone will receive the equivalent of just over £2 billion.
Vodafone says it’ll explain how it’s going to use this dividend next week. A number of commentators have suggested there’ll be a payment to shareholders as well as an investment in new technology.
Last year was the first time since 2005 that Verizon had made dividend payments.