Form 8-K
28 January 2004 - 5:02AM
UK Regulatory
RNS Number:6929U
Verizon Communications
27 January 2004
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: January 22, 2004
(Date of earliest event reported)
VERIZON COMMUNICATIONS INC.
(Exact name of registrant as specified in its charter)
Delaware 1-8606 23-2259884
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer Identification No.)
incorporation)
1095 Avenue of the Americas,
New York, New York 10036
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number, including area code: (212) 395-2121
Not applicable
(Former name or former address, if changed since last report)
Item 9. Regulation FD Disclosure.
Below is a press release issued by Verizon Communications Inc.
NEWS RELEASE
(VERIZON LOGO)
FOR IMMEDIATE RELEASE Media contact:
Jan. 22, 2004 Bob Varettoni
212-395-7726
robert.a.varettoni@verizon.com
Verizon Communications Announces
Common Stock Repurchase Authorization
NEW YORK -- Verizon Communications Inc. (NYSE:VZ) announced today that
its Board of Directors has authorized the corporation to repurchase up to
80 million shares of its common stock.
The board also determined that no additional shares may be acquired
under a previously approved program to repurchase up to 80 million shares.
Under the previous program, which was due to end Feb.29, 2004, approval remained
to purchase approximately 47.5 million shares.
Approximately 2.77 billion shares of Verizon common stock were
outstanding as of Dec. 31, 2003.
Under the plan approved today by the board, Verizon's senior officers
have the option to repurchase shares for the corporation over time, with the
amount and timing of repurchases depending on market conditions and corporate
needs.
Although shares repurchased under the plan may generally be used for any
corporate purpose, the corporation currently expects to apply repurchased shares
to satisfy normal funding requirements for employee benefit plans and the
Verizon Communications Direct Invest direct stock purchase and share ownership
plan.
The authorization to repurchase shares terminates when the aggregate number of
shares repurchased reaches 80 million or at the close, of business on Feb.28,
2006, whichever is earlier.
A Fortune 10 company, Verizon Communications (NYSE:VZ) is one of the world's
leading providers of communications services, with approximately $67 billion in
revenues. Verizon companies are the largest providers of wireline and wireless
communications in the United States, with more than 139 million access line
equivalents and 36 million Verizon Wireless customers. Verizon is the third
largest long-distance carrier for U.S. consumers, with nearly 16 million long-
distance lines. The company is also the largest directory publisher in the
world, as measured by directory titles and circulation. Verizon's international
presence includes wireline and wireless communications operations and
investments, primarily in the Americas and Europe. For more information,, visit
www.verizon.com.
#####
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and
biographies, media contacts and other information are available at Verizon's
News Center on the World Wide Web at www.verizon.com/news. To receive news
releases by e-mail, visit the News Center and register for customized automatic
delivery of Verizon news releases.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Verizon Communications Inc.
----------------------------------------
(Registrant)
Date: January 22, 2004 /s/ David H. Benson
------------------- ----------------------------------------
David H. Benson
Senior Vice President and Controller
This information is provided by RNS
The company news service from the London Stock Exchange
END
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