We present experimental data on the dissociative recombination ͑DR͒ and the dissociative excitation ͑DE͒ of O 2 ϩ in its electronic and vibrational ground state using a heavy ion storage ring. The absolute DR cross section has been determined over an electron collision energy range from 1 meV to 3 eV. The thermal DR rate coefficient is derived; ␣(T e )ϭ2.4ϫ10 Ϫ7 (300/T e ) 0.70Ϯ0.01 cm 3 s Ϫ1 , for TϾ200 K. The threshold for DE was observed near its energetic threshold of 6.7 eV. The DE cross section curve has a maximum of 3ϫ10 Ϫ16 cm 2 near 15 eV. We have determined the branching fractions to the different dissociation limits and present atomic quantum yields for the DR process between 0 to 300 meV collision energy. The quantum yield of O( 1 D) is found to be 1.17Ϯ0.05, largely independent of the electron energy. Arguments are presented that the branching fraction to O( 3 P)ϩO( 1 S) is negligible. The branching fraction to the O( 1 S)ϩO( 1 D) is smaller than 0.06 and varies strongly as a function of collision energy. The O( 1 S) quantum yield is a strong function of electron temperature. Hence, the relative strength of the green, O( 1 S), and the red, O( 1 D), airglows may be used as a measure of the electron temperature of the upper atmosphere. A qualitative explanation is given of the consequences of nonadiabatic interactions in the dissociation step of the DR process.