Verizon Communications Announces Repurchase Authorization for Up to 100M Shares

Verizon Communications Inc. VZ announced today that its Board of Directors has authorized the corporation to repurchase up to 100 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 100 million shares. Under the previous program, which was due to end Feb. 28, 2011, approval remained to purchase approximately 60 million shares.