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Shenandoah Telecommunications Company Announces 2022 Annual Dividend

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Shenandoah Telecommunications Company (SHEN) announced a cash dividend of $0.08 per share, marking a 14.3% increase from December 2021. This dividend will be payable on December 1, 2022, to shareholders of record as of November 7, 2022. This year marks the company's sixty-third consecutive year of paying annual dividends, highlighting its commitment to returning value to shareholders. President and CEO Christopher E. French stated that the increase reflects confidence in the long-term growth prospects of their Glo Fiber expansion plans.

Positive
  • Dividend increased by $0.01 per share, representing a 14.3% rise.
  • Company has a strong history with sixty-three consecutive years of annual dividends.
  • Demonstrates management's confidence in long-term growth and expansion plans.
Negative
  • None.

EDINBURG, Va., Oct. 25, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Shenandoah Telecommunications Company (Shentel) (NASDAQ: SHEN) declared a cash dividend of $0.08 per share.

The dividend will be payable December 1, 2022, to shareholders of record as of the close of business on November 7, 2022. This dividend is an increase of $0.01 per share or 14.3% over the December 2021 dividend and will be Shentel’s sixty-third consecutive year of annual dividends.

“We are pleased to announce an increase in the annual dividend, demonstrating our confidence in the long-term growth prospects of our Glo Fiber expansion plans,” said President and CEO Christopher E. French.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art fiber-optic and cable 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 7,900 route miles of fiber and over 220 macro cellular towers. For more information, please visit www.shentel.com.

This release contains forward-looking statements about Shentel regarding, among other things, its business strategy, its prospects and its financial position. These statements can be identified by the use of forward-looking terminology such as “believes,” “estimates,” “expects,” “intends,” “may,” “will,” “should,” “could,” or “anticipates” or the negative or other variation of these or similar words, or by discussions of strategy or risks and uncertainties. The forward-looking statements are based upon management’s beliefs, assumptions and current expectations and may include comments as to Shentel’s beliefs and expectations as to future events and trends affecting its business that are necessarily subject to uncertainties, many of which are outside Shentel’s control. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved, and actual results may differ materially from those contained in or implied by the forward-looking statements as a result of various factors. A discussion of other factors that may cause actual results to differ from management’s projections, forecasts, estimates and expectations is available in Shentel’s filings with the Securities and Exchange Commission. Those factors may include natural disasters, pandemics and outbreaks of contagious diseases and other adverse public health developments, such as COVID-19, changes in general economic conditions including high inflation, increases in costs, changes in regulation and other competitive factors. The forward-looking statements included are made only as of the date of the statement. Shentel undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as required by law.

CONTACT:

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


FAQ

When is the dividend payment date for SHEN?

The dividend will be payable on December 1, 2022.

What is the amount of the dividend declared by SHEN?

Shenandoah Telecommunications declared a dividend of $0.08 per share.

What was the increase in the dividend compared to last year?

The dividend increased by $0.01 per share, or 14.3%, over the December 2021 dividend.

What is the record date for the SHEN dividend?

The record date for the dividend is November 7, 2022.

How long has SHEN been paying dividends?

Shenandoah Telecommunications has paid annual dividends for sixty-three consecutive years.

Shenandoah Telecom Co

NASDAQ:SHEN

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700.00M
49.85M
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74.05%
2.72%
Telecom Services
Telephone Communications (no Radiotelephone)
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United States of America
EDINBURG