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Crown Castle Inc. (NYSE: CCI) is a leading provider of wireless infrastructure, offering a comprehensive portfolio of more than 40,000 cell towers, approximately 90,000 route miles of fiber, and small cell solutions across major U.S. markets. Since its inception in 1994, Crown Castle has been instrumental in supporting the infrastructure behind the world's most revolutionary technologies, enabling seamless data and wireless services that benefit communities and businesses nationwide.
Operating as a real estate investment trust (REIT), Crown Castle leases space on its towers to wireless service providers, helping them expand their networks and enhance connectivity. Its fiber assets are crucial for small-cell network infrastructure and enterprise connections, making it a vital player in the telecommunications industry. The company derives about 75% of its revenue from the top three U.S. mobile carriers, underscoring its significant market position and stable revenue stream.
Recently, Crown Castle has faced substantial challenges, including leadership changes and strategic scrutiny. In 2024, Ted B. Miller, co-founder and former CEO, alongside Boots Capital Management, initiated a proxy contest to elect new board members, citing dissatisfaction with the company's performance and strategy. Despite this, Crown Castle continues to focus on improving operational execution and exploring strategic options to maximize shareholder value.
Under the leadership of new CEO Steven Moskowitz, Crown Castle aims to enhance efficiency and unlock value from its assets. The company is actively engaging with multiple parties to explore potential transactions involving its fiber segment, while also striving to bolster its core towers business. Crown Castle remains committed to being a reliable partner for wireless carriers, businesses, and communities, ensuring that the transformative power of technology reaches those who rely on it most.
Crown Castle International Corp. (NYSE: CCI) announced that Dan Schlanger, the Executive Vice President and Chief Financial Officer, will present at three upcoming conferences. The events include the Raymond James 42nd Annual Institutional Investors Conference on March 2, 2021, the Morgan Stanley 2021 Technology, Media & Telecom Conference on March 4, 2021, and the Deutsche Bank 29th Annual Media, Internet & Telecom Conference on March 9, 2021. Each presentation is expected to last 30-50 minutes and will be broadcast live via the company's website.
Crown Castle International Corp. (NYSE: CCI) has declared a quarterly cash dividend of $1.33 per common share, payable on March 31, 2021, to stockholders of record by March 15, 2021. This decision underscores the company's commitment to delivering shareholder value through consistent dividend payouts. All future dividends will require approval from Crown Castle's Board of Directors. The company operates over 40,000 cell towers and 80,000 miles of fiber nationwide, supporting critical communications infrastructure.
Crown Castle International Corp. (NYSE: CCI) has priced its public offering of Senior Notes worth $3.25 billion, consisting of 1.050% Senior Notes due 2026, 2.100% Senior Notes due 2031, and 2.900% Senior Notes due 2041. The net proceeds will be used to redeem existing 5.250% Senior Notes due 2023 and repay part of the outstanding debt. The offering is expected to close on February 16, 2021, with redemption of the 2023 notes occurring on March 10, 2021.
Crown Castle International Corp. (NYSE: CCI) announced a public offering of senior notes to redeem 5.250% Senior Notes due 2023 and reduce debt from its commercial paper program and Senior Unsecured Term Loan A Facility. Proceeds will also cover associated fees. The offering is led by Barclays, BofA Securities, Citigroup, MUFG, and RBC Capital Markets, and will be conducted under an SEC registration statement. Caution is advised due to potential market uncertainties affecting expected outcomes.
Crown Castle International Corp. (NYSE: CCI) released year-end tax reporting details regarding 2020 distributions for its Common and Preferred Stock. Shareholders are advised to consult tax advisors for specific treatments. Key figures include cash distributions of $1.20 per share for Common Stock in March, June, and September, while December saw a rise to $1.33. Preferred Stock distributions were reported at $17.1875 per share throughout the year. Notably, there were no long-term capital gains or non-taxable distributions affecting shareholders during 2020.
Crown Castle International Corp. reported its Q4 and full-year 2020 results, revealing site rental revenues of $5.555 billion, a 4% increase year-over-year. Net income declined 6% to $997 million, while Adjusted EBITDA dropped 3% to $3.607 billion. Despite challenges, the company forecasts approximately 6% growth in site rental revenue for 2021 and an 11% dividend increase. A significant highlight includes a new agreement with Verizon for 15,000 small cells, enhancing their growth potential in the 5G market. The company faces a setback from T-Mobile's cancellation of 5,700 small cells.
Crown Castle International Corp. (NYSE: CCI) has signed a significant new agreement with Verizon, committing to lease 15,000 small cells over the next four years. This deal reflects Verizon's 5G Ultra Wideband and 5G Nationwide deployment plans and will have an initial term of 10 years once installed. Both companies express enthusiasm for this strategic partnership, highlighting its importance in advancing 5G infrastructure across the U.S. Crown Castle operates more than 40,000 cell towers and 80,000 route miles of fiber, essential for supporting wireless services.
Crown Castle plans to release its fourth quarter 2020 results on January 27, 2021, after market close. A conference call is scheduled for January 28, 2021, at 10:30 a.m. ET, accessible by phone or via the website. A recording will be available from January 28 to April 28, 2021. Crown Castle operates over 40,000 cell towers and 80,000 miles of fiber nationwide, connecting communities to vital wireless services. For more details, visit www.crowncastle.com.
Crown Castle International Corp. (NYSE: CCI) has announced that its Chief Financial Officer, Dan Schlanger, will present at the Citi 2021 Global Technology, Media and Telecom West Conference on January 7, 2021, at 12:00 p.m. Eastern Time. The presentation is expected to last approximately 45 minutes and will be broadcast live on Crown Castle's website, where it will also be available for replay.
Crown Castle operates over 40,000 cell towers and 80,000 miles of fiber across the U.S., supporting critical wireless services.
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