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Crown Castle Inc. (NYSE: CCI) operates as a U.S.-focused wireless tower REIT that owns, operates and leases approximately 40,000 cell towers. Following the completed sale of its Fiber Solutions and Small Cell businesses, company updates center on tower leasing, site rental revenue, wireless carrier relationships, capital allocation and debt reduction.
Recurring Crown Castle news includes quarterly and annual operating results, outlook updates, common stock dividends, tax reporting for distributions, stock repurchase plans, credit and balance-sheet actions, customer contract matters and governance or executive-compensation developments tied to its communications infrastructure portfolio.
Crown Castle International Corp. (NYSE: CCI) has announced that its CFO, Dan Schlanger, will present at the Cowen and Company 6th Annual Virtual Communications Infrastructure Summit on August 11, 2020, at 9:20 a.m. ET. The presentation will be broadcast live and is expected to last around 40 minutes. Users can access the live webcast and the archived presentation on Crown Castle's website.
Crown Castle operates over 40,000 cell towers and approximately 80,000 route miles of fiber across the U.S., providing vital communication infrastructure.
Crown Castle International Corp. (NYSE: CCI) announced the mandatory conversion of its 6.875% Mandatory Convertible Preferred Stock on August 1, 2020. Each share of Preferred Stock will convert into 8.8043 shares of Common Stock. As of July 29, 2020, approximately 1.3 million shares of Preferred Stock were outstanding, alongside 419.7 million Common Stock shares. Post-conversion, Crown Castle expects around 431.3 million Common Stock shares in circulation. Dividends on Preferred Stock will cease on the conversion date, with the next dividend payment scheduled for August 3, 2020.
Crown Castle International Corp. reported Q2 2020 results, showing a 4% increase in site rental revenues to $1.319 billion and a 7% decrease in net income to $200 million, or $0.41 per share. The company maintained its 2020 outlook, projecting at least 7% growth in AFFO per share. Capital expenditures totaled $414 million, with substantial investments in fiber and tower infrastructure. Dividends rose by 7% per share to $1.20. Despite a $95 million loss related to debt retirement, Crown Castle expressed confidence in long-term growth fueled by 5G investments.
Crown Castle International Corp. (CCI) announced enhancements to its corporate governance, including a mandatory Board retirement policy and plans for Board refreshment. Effective immediately, non-employee directors aged 72 and above will not be renominated, impacting several current members. The company is also reviewing its executive compensation program to align it with shareholder interests. Chairman Martin emphasized that these governance enhancements support long-term shareholder value. The company will release its second quarter 2020 earnings shortly.
Crown Castle International Corp. (NYSE: CCI) is set to announce its second quarter 2020 results on July 29, 2020, after market close. An accompanying conference call is scheduled for July 30, 2020, at 10:30 a.m. Eastern time, accessible via phone or live online. A telephonic replay will be available until October 28, 2020. Crown Castle operates over 40,000 cell towers and 80,000 miles of fiber, providing critical infrastructure for wireless communications across the U.S. More details can be found on their website.
Crown Castle International Corp. (NYSE: CCI) issued a statement addressing Elliott Associates regarding its strategic direction. With over 25 years of experience, Crown Castle boasts a robust portfolio of towers and fiber networks essential for communications, aiming for significant growth in the U.S. market. The company has invested approximately $30 billion over the last decade to enhance its assets, expecting a long-term investment cycle driven by mobile data and 5G demand. Crown Castle aims to grow its dividend by 7% to 8% annually and has delivered impressive shareholder returns, including over $9 billion in dividends since 2014.
Crown Castle International Corp. (NYSE: CCI) announced a quarterly dividend of $17.1875 per share on its 6.875% Mandatory Convertible Preferred Stock. This dividend will be paid in cash on August 3, 2020, to holders of record as of July 15, 2020. The company owns and operates over 40,000 cell towers and 80,000 route miles of fiber across major U.S. markets, supporting vital communication infrastructure. This payment reflects Crown Castle's ongoing commitment to returning value to shareholders amidst a growing demand for data and wireless services.
Crown Castle International Corp. (NYSE: CCI) announced a public offering of Senior Notes totaling $3 billion with varying maturity dates. The offering includes $500 million of 1.350% notes due 2025, $1.1 billion of 2.250% notes due 2031, and $900 million of 3.250% notes due 2051. The net proceeds, estimated at $2.473 billion, will be used to redeem existing higher-interest notes due in 2021 and 2022. The offering is managed by J.P. Morgan and other financial institutions and is part of an existing effective shelf registration with the SEC.
Crown Castle is initiating a public offering of senior notes to redeem existing debt, specifically targeting its 3.400%, 2.250%, and 4.875% Senior Notes due in 2021 and 2022. The offering, subject to market conditions, will leverage net proceeds along with available cash. Leading this offering are J.P. Morgan, Mizuho, SOCIETE GENERALE, SMBC Nikko, and TD Securities. This offering is registered with the SEC, and more details can be found in the preliminary prospectus on their website.
Crown Castle International Corp. (NYSE: CCI) announced that Dan Schlanger, its CFO, will present at Nareit’s REITweek: 2020 Virtual Investor Conference on June 2, 2020, at 1:05 p.m. ET. The presentation is expected to last around 30 minutes and will be accessible via a webcast, which will be available on Crown Castle’s website one week prior to the event.
Crown Castle operates over 40,000 cell towers and 80,000 miles of fiber networks, providing critical communication infrastructure across the U.S.