By Anna Prior
Verizon Communications Inc. on Friday said its board has
authorized the company to repurchase up to 100 million shares as
the period for its previous buyback program wrapped up.
Under the previous share repurchase program, which ended on Feb.
28, Verizon purchased 3.5 million shares, the company said, adding
that the new program is for the same number of shares and the same
three-year duration as the recently expired authorization.
The company also said its board declared a quarterly dividend of
53 cents a share, unchanged from the previous quarter.
Verizon in January reported it swung to a fourth-quarter profit,
as the phone carrier continued to benefit from rising wireless and
FiOS customers.
Shares rose nine cents to $47.24 after hours. Through Friday's
close, the stock has slipped 0.7% in the last 12 months.
Write to Anna Prior at anna.prior@wsj.com
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