Shenandoah Telecommunications Company Announces 2021 Annual Dividend

Rhea-AI Summary

Shenandoah Telecommunications Company (SHEN) has declared a cash dividend of $0.07 per share, payable on December 1, 2021, to shareholders of record by November 8, 2021. This marks the company’s sixty-second consecutive year of annual dividends. Following the sale of its wireless business and a special dividend of $18.75 per share distributed in August, Shentel is realigning its annual dividend with expected earnings from continuing operations. The CEO stated the company is poised to continue investing in broadband growth while returning capital to shareholders.

Positive

• Dividend of $0.07 per share indicates company confidence.
• Sixty-second consecutive year of annual dividends demonstrates stability.
• Continued investment in broadband suggests long-term growth.

Negative

• None.

EDINBURG, Va., Oct. 27, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Shenandoah Telecommunications Company (Shentel) (NASDAQ: SHEN) declared a cash dividend of $0.07 per share.

The dividend will be payable December 1, 2021, to shareholders of record as of the close of business on November 8, 2021. This dividend will be Shentel’s sixty-second consecutive year of annual dividends.

“We are pleased to continue our tradition of an annual dividend. With the sale of our wireless business in July, and the distribution of an $18.75 per share special dividend in August, we have now re-aligned the annual dividend with the expected earnings per share for continuing operations,” said President and CEO Christopher E. French. “We are well positioned to continue investing in the long-term growth of our broadband business and to continue returning capital to our shareholders.”

About Shenandoah Telecommunications

Shenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art cable, fiber-optic and fixed wireless networks to customers in the Mid-Atlantic United States. The Company's services include: broadband internet, video, and voice; fiber-optic Ethernet, wavelength and leasing; and tower colocation leasing. The Company owns an extensive regional network with over 7,000 route miles of fiber and over 220 macro cellular towers. For more information, please visit www.shentel.com.

CONTACT:

Shenandoah Telecommunications Company
Jim Volk
Senior Vice President, Chief Financial Officer
540-984-5168

FAQ

What is the dividend amount declared by Shentel in October 2021?

Shentel declared a cash dividend of $0.07 per share.

When will Shentel's dividend be paid to shareholders?

The dividend will be payable on December 1, 2021.

What is the record date for Shentel's dividend?

The record date for the dividend is November 8, 2021.

How many consecutive years has Shentel paid dividends?

Shentel has paid dividends for sixty-two consecutive years.

What special dividend was distributed by Shentel in August 2021?

Shentel distributed a special dividend of $18.75 per share.