Verizon: No Wireless Dividend Until 2011

Verizon CEO Ivan Seidenberg said he won't hold talks about issuing a dividend for Verizon Wireless until next year.
By Olivia Oran ,

NEW YORK (

TheStreet

) --

Verizon Communications

(VZ) - Get Report

won't hold talks about issuing a dividend for Verizon Wireless until 2011, Chief Executive Officer Ivan Seidenberg said at an investor conference Tuesday.

Vodafone

, which owns 45% of Verizon Wireless, has been pushing for the mobile carrier to issue a dividend. Verizon Communications, which owns the remaining 55%, has been blocking dividend payments in a reported attempt to encourage Vodafone to sell its stake in the business.

A dividend payout could occur in 2012 or 2013, Seidenberg said. Until then, Verizon Wireless is focused on paying down its debt.

--Written by Olivia Oran in New York.

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