Published: Nov 12, 2012 4:42 PM EST
Updated: Nov 13, 2012 7:31 AM EST

BASKING RIDGE, N.J. (AP) - Verizon Wireless says it will pay a dividend of $8.5 billion next month to its owners, Verizon Communications and Vodafone Group.

Vodafone, a British mobile phone company with wide international interests, owns 45 percent of Verizon Wireless. Verizon Communications owns the other 55 percent.

Verizon Wireless paid a dividend of $10 billion to its owners last January.

Shares in Verizon Communications fell 8 cents to close at $42.56 and Vodafone Group shares lost 17 cents to close at $26.39 in Monday trading.