Welcome to our dedicated page for Lict news (Ticker: LICT), a resource for investors and traders seeking the latest updates and insights on Lict stock.
LICT Corporation reports on its operations as an integrated provider of broadband and voice services serving rural markets. Recurring company news covers regulated and non-regulated revenue trends, broadband subscriber growth, fiber construction, middle-mile and distribution network investment, and federal or state rural broadband support programs such as the Universal Service Fund, BEAD and ReConnect.
LICT updates also include completed expansion activity such as the Manti Telephone Company acquisition, common-stock repurchase authorizations, shareholder-designated charitable contribution programs, management changes, and periodic operating results tied to broadband deployment and legacy voice-service trends.
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LICT Corporation (OTC Pink: LICT) reported its financial results for 2022, noting a revenue increase to $131.3 million, up from $129.1 million in 2021. EBITDA fell slightly to $57.6 million from $57.8 million, with earnings per share at $1,311, down from $1,368. In Q4 2022, revenues were $33.1 million, a rise from $32.5 million in Q4 2021. Capital expenditures rose significantly, totaling $48.3 million for the year, while shareholder contributions reached $1.1 million in 2022. LICT continues to expand its broadband initiatives, including accepting $62 million in grants for infrastructure improvements.
LICT Corporation (OTC Pink: LICT) continues its Shareholder Charitable Contribution program, donating $100 per share to charities designated by registered shareholders. In the past six years, the company has contributed over $6.5 million. Shareholders must register their shares by January 12, 2023 and submit donation forms by January 31, 2023. The Board of Directors has authorized an additional 500 shares for repurchase, totaling 844. The repurchases will occur opportunistically with no guarantee of additional purchases.
LICT Corporation (OTC Pink: LICT) has initiated a search for a new Chief Executive Officer with a focus on broadband experience to enhance its high-speed broadband deployment plans across six states. Current CEO Mario J. Gabelli will transition to Executive Chairman. The company emphasizes its commitment to growth in telecommunications and broadband services while cautioning that forward-looking statements regarding financial results and business conditions are subject to risks and uncertainties. For more details, visit www.lictcorp.com.