Verizon Wireless has announced a surprise $7 billion dividend for its owners, Verizon Communications (55 per cent) and Vodafone (45 per cent), payable on 25 June 2013.

The announcement appears to have wrong-footed industry observers. Lowell McAdam, Verizon Communications’ chief executive, had indicated only days earlier that the priority was to pay down debt before giving money back to shareholders. He warned of a “lean” year in terms of dividend payouts from Verizon Wireless.

“I wouldn’t call that lean,” Jonathan Schildkraut, an analyst at Evercore, told Reuters. He admitted surprise at the $7 billion dividend, interpreting McAdam’s earlier comments – along with many others – as a way of putting pressure on Vodafone to sell its stake in Verizon Wireless.

Speculation has rumbled on for weeks about a possible between deal Vodafone and Verizon Communications that would see the UK-based operator exit the highly-profitable Verizon Wireless.

And it was widely thought that by putting a hold on Verizon Wireless dividends – as McAdam previously suggested – it would give Verizon Communications a stronger hand in negotiations. The US operator has made no secret of its desire to fully own Verizon Wireless, but the dividend announcement might suggest that there has been a change in management thinking.

“This is a complete surprise and runs counter to some of the reports in the press recently,” Jonathan Chaplin, an analyst with New Street Research LLP, told Bloomberg. “There are two ways to read it: the companies’ relations aren’t as fractious as we may have believed or Verizon has completely given up on the process.”

Chaplin adds, however, that it is “highly unlikely” that the deal is off the table

Split according to their respective holdings in Verizon Wireless, Verizon Communications receives $3.8 billion from the dividend and Vodafone gets $3.2 billion (£2 billion).

Vodafone says it will update shareholders on how it plans to use the money when it reports its full-year results on 21 May.