8-KRegulation FD

VERIZON COMMUNICATIONS INC 8-K Report, Regulation FD Disclosure (Nov 13, 2012)

Filed November 13, 2012For Securities:VZ

Summary

Verizon Communications Inc. (VZ) announced via an 8-K filing on November 12, 2012, that its subsidiary, Cellco Partnership d/b/a Verizon Wireless, declared significant distributions to its owners. The total distribution amount is $8.5 billion, to be paid out by December 31, 2012. This action is significant as it represents a substantial cash inflow for the parent company and its partner, Vodafone. Verizon Communications Inc. is set to receive approximately $4.675 billion in cash from these distributions, while Vodafone Group Plc will receive the remaining $3.825 billion. This distribution is based on their respective partnership interests in Verizon Wireless. Investors should note that this is a cash distribution from the operating subsidiary, reflecting the ongoing financial strength and operational success of Verizon Wireless at that time.

Key Highlights

  • 1Verizon Wireless declared distributions totaling $8.5 billion.
  • 2Distributions are expected to be paid by December 31, 2012.
  • 3Verizon Communications Inc. (parent company) will receive approximately $4.675 billion.
  • 4Vodafone Group Plc will receive approximately $3.825 billion.
  • 5These distributions are proportionate to ownership interests in Verizon Wireless.
  • 6The announcement was made via a Form 8-K filed on November 12, 2012.

Frequently Asked Questions

This Form 8-K filing is to disclose a material event: the declaration of significant cash distributions by Verizon Wireless to its owners. This is a voluntary disclosure under Regulation FD.

Verizon Communications Inc. is expected to receive cash payments aggregating $4.675 billion from these distributions.

Vodafone Group Plc is the other owner of Verizon Wireless and will receive cash payments aggregating $3.825 billion.

The distributions are payable on or prior to December 31, 2012.