4 Tech Stock Stories From the Weekend

Verizon Communications (NYSE:VZ): Current price $49.166

Verizon’s relationship with the bankrupt directory company Idearc has led to it being sued for $2.85 billion in debt and interest in a lawsuit filed in New York State Supreme Court in Manhattan. The suit is related to the non-payment of debt evidenced by 8 percent senior notes due 2016 that were issued through an agreement between Idearc and U.S. Bank as indenture trustee dated November 2006, said the court filings.

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AT&T (NYSE:T): Current price $37.12

On Friday, AT&T’s board declared a quarterly dividend of 45 cents per share on its common shares, payable on May 1 to stockholders of record at the close on April 10. Also, the board okayed the repurchase of as many as 300 million shares, representing about 5.5 percent of common shares outstanding, with no expiration date.

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Cisco Systems (NASDAQ:CSCO): Current price $20.93

Cisco’s board of directors has declared a quarterly dividend of 17 cents per common share, marking a 3-cent increase over the previous quarter’s dividend. It will be paid on April 24 to all shareholders of record as of the close on April 8. Executive Vice President and Chief Financial Officer Frank Calderoni said: “We are increasing our dividend as part of our strategy to deliver a consistent return to our shareholders, in line with our capital allocation commitment. Cisco’s continued execution and strong financial position enable us to provide a higher dividend directly to our shareholders.”

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Facebook (NASDAQ:FB): Current price $25.40

TechCrunch reports that Facebook just invited the media to an event at its headquarters on April 4 to Come See Our New Home On Android. Sources said that it will consist of a modified version of the Google (NASDAQ:GOOG) Android operating system, along with “deep native Facebook functionality on the homescreen that may live on an HTC handset.”

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