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February 21, 2014 at 08:49 AM EST
Vodafone Group Plc Reports Reverse Stock Spilt; Pro Rata Distribution of Verizon Communications Inc. Stock (VOD, VZ)

On Thursday, Vodafone Group Plc (ADR) (VOD) reported a pro rata distribution to shareholders of common stock of Verizon Communications Inc. (VZ).

The distribution will be given to VZ shareholders of record on February 20 and will occur on February 21. Following the distribution, there will be a 6:11 reverse stock split of VOD.

For each ADR held of VOD, shareholders will be given .263001 of a share of VZ common stock. Nasdaq reported that this transaction will be effective before the market open on February 24.

Vodafone Group shares were up 29 cents, or 0.75%, during pre-market trading Friday.

The Bottom Line

Shares of Vodafone Group Plc (ADR) (VOD) have a 4.10% yield based on Thursday’s closing price of $38.74.

Vodafone Group Plc (ADR) (VOD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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