Verizon Wireless to pay $10B dividend to owners

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NEW YORK (AP) — Verizon Wireless says it will pay a dividend of $10 billion in January to its owners, Verizon Communications Inc. and Vodafone Group PLC, ending a strategy of reducing debt that has frustrated Vodafone.

Vodafone, a British cellphone company with wide international interests, owns 45 percent of Verizon Wireless, yet hasn’t received any cash from the U.S. carrier in years.

Vodafone shares rose more than 5 percent in aftermarket trading in New York. Verizon gained 18 cents to $35.84 in aftermarket trade.