This excerpt taken from the VZ 8-K filed Oct 26, 2009.
Long-Term Shareowner Value
Verizon continues to generate strong cash flow, which we have used in building the foundation for sustainable, long-term shareowner value, said Verizon Chairman and CEO Ivan Seidenberg. Even through the worst of the recession, we have continued to raise our dividend
Verizon News Release, page 3
and to add new customers, expand markets and grow revenues based on the power and innovation of Verizons wireless, broadband and global networks.
He added, The Verizon network is now an engine for next-generation communications services that will create new short- and long-term opportunities for us. As the U.S. economic and employment picture improves, and as we accelerate reductions in our own cost structure, we are well-positioned to quickly and significantly improve our growth profile.
Seidenberg also noted that a simplified organizational structure announced earlier this month will enable Verizon to achieve improved levels of productivity. The realignment has combined two former Wireline business groups, Verizon Telecom and Verizon Business, into one organization.