Verizon chief hints at withdrawing dividend to Vodafone

05/2/2013 | Wall Street Journal, The

Verizon Communications CEO Lowell McAdam told investors this week that paying down Verizon Wireless' $5 billion debt load that comes due in mid-2014 will take top priority over paying dividends to the carrier's two owners, which includes Vodafone. Verizon is reportedly trying to buy out the British telecom's 45% share in the wireless company, but McAdam said the telecom will not pay what he sees as a premium price. Some analysts believe Verizon wields the dividend as a carrot and stick to persuade Vodafone to sell its stake.

View Full Article in:

Wall Street Journal, The

Published in Brief: