Boston, MA 10/29/2013 (wallstreetpr) – Verizon Communications Inc. (NYSE:VZ) will donate $100K towards the recovery of businesses affected by the boardwalk fire in Seaside Heights and Seaside Park. This grant is offered through the communications company’s foundation to the Hurricane Sandy New Jersey Relief Fund.
In the Superstorm Sandy recovery, dozens of businesses last month faced additional devastation due to the boardwalk fire in Seaside Park and Seaside Heights. Verizon has committed to help in the bounce back of the community where it serves and where its employees live by contributing towards their speedy rebuilding process. The announcement about the $100K grant to the victims of Sandy was made by the company’s vice president of the government affairs Leecia Eve.
Verizon’s philanthropic work through its foundation accelerates social change through the company’s innovative technologies by stepping in to help with pressing problems in energy management, education and health care. The foundation has, since 2000, invested more than $500 million towards the improvement of the communities it serves and where its employees live. The company’s employees have also offered nearly 7 million hours towards the rebuilding of their communities
Following the severe flood devastation from the October storm last year, more than 160 employees from Verizon’s different departments participated in a voluntary work at the Hugh J. Boyd Elementary School in Seaside Heights. The company also donated more than $6 million towards the Sandy relief.
Verizon Communications has more than 100 million retail connections for its wireless network nationwide. The company is a global leader in provision of wireless and wireline communications services. It serves the retail market, wholesale, businesses and governments. Verizon is a Dow No.30 company with $116 billion in revenue last year.
In the Monday’s trading the company’s shares moved south in the regular session losing 0.28% to settle at $50.57. It however gained 0.24% in the after hours trading. The company has $144.72 billion in market cap.