NYSE:VZTelecom
How Verizon’s Debt Exchange, Dividend and US$25 Billion Buyback Plan (VZ) Has Changed Its Investment Story
Earlier this month, Verizon Communications’ board reaffirmed a quarterly dividend of US$0.7075 per share and moved to repurchase or exchange a wide range of legacy subsidiary debt through cash tender and exchange offers, including raising the Waterfall Cap to buy all validly tendered Waterfall Notes.
By extending early participation deadlines, cumulating consents across cash and exchange offers, and keeping new notes economically identical to old ones, Verizon is aiming to simplify its...