The main Irish unit of US telecommunications giant Verizon Communications has paid out combined dividends of $1.45 billion (€1.26 billion) this year.
That is according to new accounts for Verizon Services Ireland Ltd which show that dividend payouts followed the firm’s pre-tax profits increasing by 35% to $1.95 billion (€1.7 billion) last year.
The increase in profits followed revenues rising by 37% from $1.48 billion to $2.03 billion.
The firm recorded post tax profits of $1.66 billion after incurring a corporation tax charge of $293.8m.
The firm’s corporate tax liability for 2025 was calculated at $244.23m based on the 12.5% corporation tax rate.
However, recent international tax reforms aimed at increasing the corporate tax take from large firms delivered an additional $46.28m in corporation from the Verizon unit.
The accounts show that the additional $46.28m in “top-up” corporation tax was as a result of the Pillar Two international corporation tax reforms introduced at the start of 2024.
In a series of post-balance sheet events, the firm declared and paid a dividend to Verizon International Inc of $660m on January 27, and dividends of $335,000 on March 24 and $460m on June 16.
The combined dividend payouts of $1.45 billion to date this year follow four separate dividend payouts for 2025 amounting to $1.755 billion.
The directors state that they are satisfied with the performance of the company in 2025 and add that during the year, the firm entered into a grant agreement with IDA Ireland.
In the first quarter of last year, Verizon Communications completed its new global centre of excellence in Limerick city.
The project was first announced in December 2023 when Verizon stated that the global centre of excellence will employ more than 400 workers.
In February 2024, Verizon Communications, signed a 15-year lease for 84,334sq ft (7,835sq m) of space at the newly developed 1BQ office scheme in Limerick City as part its global centre of excellence plans for Limerick
Developed by Kirkland Investments, 1BQ occupies a high-profile waterfront site overlooking the River Shannon at Bishop’s Quay in Limerick city centre and the scheme comprises an eight-storey office block.
Verizon has been active here since 2006 and employs about 1,000 workers in Dublin.
The principal activity of Verizon Service in Ireland is to act as the centralised strategic services organisation with specialised resources focused on providing global strategic sourcing, procedure and supply chain services designed to create value and enhance global scale, capabilities and efficiencies for its service recipients.
The firm also provides global roaming services to drive the marketing and pricing aspects of Verizon Wireless global (or non-US) roaming service offerings to customers.
A breakdown of 2025 revenues shows that $1.58 billion was generated through “sourcing”; $406m through “roaming” and $38.67m through product resale services.
Numbers employed at the Verizon unit increased by 179 from 367 to 546 during 2025 as staff costs rose by $20m from $45.05m to $65.66m.
At the end of December 2025, the firm had accumulated profits of $664.9m. The company’s cash funds increased sharply, rising from $416.26m to $627.48m.
Reporting by Gordon Deegan
