Verizon Wireless to pay its parents $7 billion dividend in June

(Reuters) - Verizon Wireless said on Monday it would pay its parents Verizon Communications and Vodafone Group Plc a dividend of $7 billion in June. Based on Verizon's 55 percent ownership of the venture and Vodafone's 45 percent stake, this will entitle Verizon to cash payments of $3.85 billion while Vodafone will receive $3.15 billion, according to a regulatory filing from the company. The Verizon Wireless board decided on the dividend on May 9. (Reporting by Sinead Carew; Editing by Phil Berlowitz)

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