Verizon Wireless May Pay Vodafone Div Starting In '12-Bloomberg

18th Jun 2010 12:37

DOW JONES NEWSWIRES Verizon Wireless may begin paying a dividend to Vodafone Group Plc (VOD) in 2012, Bloomberg reported Friday on its website, citing an interview with John Killian, chief financial officer of Verizon Communications Inc. (VZ), Vodafone's partner in the U.S. wireless venture. Vodafone, which owns 45% of Verizon Wireless, has been seeking a dividend from the venture, which has been using funds primarily to cut debt. Killian told Bloomberg that Verizon Wireless may start paying the dividend after its debt is paid off by 2011. Ivan Seidenberg, chief executive of Verizon Communications, which owns the remaining 55% of Verizon Wireless, has said he will only consider a dividend once the venture's debt has been paid off. Full story at http://preview.bloomberg.com/news/2010-06-18/vodafone-may-receive-verizon-wireless-dividend-payments-starting-in-2012.html -Dow Jones Newswires; 212-416-2900 (END) Dow Jones Newswires June 18, 2010 07:37 ET (11:37 GMT)