Array Digital Infrastructure Inc (USM) News & EventsUSMNews & EventsArray Digital Infrastructure Inc

Array Digital Infrastructure reports Q2 EPS 36c vs. 20c last year

Reports Q2 revenue 916M, consensus $907.73M. "I am pleased that we have successfully closed the T-Mobile deal and have declared a special dividend in connection with the transaction," said Doug Chambers, Array interim President and CEO. "As a tower company with 4,400 towers and a new Master License Agreement with T-Mobile, Array has strength and stability from its current tower revenue stream, along with an excellent opportunity to grow colocations and revenues, and to expand margins over time. Our non-controlling investment interests also continue to generate significant cash flow. Further, I look forward to closing our announced spectrum transactions and continuing to work toward opportunistically monetizing our remaining spectrum."

Array Digital Infrastructure declares special dividend of $23.00 per share

Array Digital Infrastructure,, formerly United States Cellular, has declared a special cash dividend of $23.00 per Common Share and Series A Common Share. The special dividend is payable on August 19 to shareholders of record on August 11. Since the Special Dividend is more than 25% of the current stock price, the New York Stock Exchange has determined that the shares will trade with "due bills" representing an assignment of the right to receive the Special Dividend up through and inclusive of the payment date of August 19, 2025. The ex-dividend date will be August 20, the first business day following the payment date. Stockholders who sell their shares on or before the payment date will not be entitled to receive the Special Dividend. Due bills obligate a seller of shares to deliver the special dividend payable on such shares to the buyer. Accordingly, if an investor wishes to receive the Special Cash Dividend, the investor will need to hold the Array shares through and including the payment date of August 19.

U.S. Cellular Telephone and Data close divestiture of wireless operations

Array Digital Infrastructure (USM) and Telephone and Data Systems (TDS) announced the successful closing of the previously announced divestiture of the Company's wireless operations and select spectrum assets to T-Mobile US. Total consideration received in today's closing was $4.3B after adjustments, which includes a combination of $2.6B in cash proceeds and approximately $1.7B in debt assumed by T-Mobile through an exchange offer made to UScellular's debtholders, which is expected to close on August 5. The amounts are subject to final adjustment approximately 180 days after the closing date. ArraySM will retain its approximately 4,400 owned towers, noncontrolling investment interests, and spectrum holdings across various bands. Array's tower assets represent the fifth largest tower business in the United States.