Verizon Declares Dividend

Verizons board of directors on Thursday declared a quarterly dividend of 48.75 cents per outstanding share.

The dividend is unchanged from the previous quarter and payable on August 1 to Verizon Communications shareholders of record at the close of business on July 8, 2011.

Last year, Verizon made $5.4 billion in dividend payments.

Verizon has roughly 2.7 million shareholders and about 2.8 billion shares of common stock outstanding.

Shares of Verizon (VZ) were trading Thursday afternoon at $36.18 on the New York Stock Exchange.