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Vodafone Unlikely to Receive Verizon Wireless Dividends in Short Term
Published on:
Vodafone shareholders may have to wait longer for any further dividend payments from Verizon Wireless than they had originally hoped.
Verizon Wireless's board of directors is due to hold a meeting next week, but wont be discussing the issue of making further payments to its two owners - Vodafone and Verizon Communications.
Citing two people with knowledge of the matter, Bloomberg News reported that while the agenda for the main meeting next week does not include discussions of a dividend payment, it may be raised in a smaller December meeting.
Verizon Wireless has been keen to preserve its profits to pay down its debt, and had said that future payments could not be guaranteed if it needed the cash for acquisitions or radio spectrum licenses.
Vodafone received a US$4.5 billion payment earlier this year, the first in several years from the company. Of that $2 billion was paid to its shareholders and the rest used to pay down Vodafone's own debt.
On the web: Bloomberg News
Tags: [vodafone] [verizon wireless] [USA]
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