Shenandoah Telecommunications Stock Price, News & Analysis

Shenandoah Telecommunications Company (SHEN) will announce its second quarter 2021 financial results on July 29, 2021, after market close. A conference call will follow at 8:00 AM ET on July 30, 2021, allowing investors to gain insights into the company's performance. The webcast can be accessed online, and a telephonic replay will be available shortly after the call concludes. Shentel provides advanced broadband services, including internet, video, voice, and fiber optic solutions, supported by over 7,000 route miles of fiber and 223 cellular towers.

Shentel (Nasdaq: SHEN) has partnered with York College of Pennsylvania to enhance internet and voice services across its three campuses, benefiting approximately 5,000 students and faculty. This collaboration aims to address bandwidth challenges and ensure reliable connectivity during remote learning, especially crucial amid the ongoing COVID-19 pandemic. Polling indicates that nearly 60% of college students struggle with stable internet access. The partnership represents Shentel's continued commitment to providing advanced communication solutions tailored for higher education institutions.

Shenandoah Telecommunications Company (Nasdaq: SHEN) announced the completion of its wireless assets sale to T-Mobile USA for approximately $1.94 billion. This concludes Shentel's 25-year history in mobile wireless services. Subsequently, a special cash dividend of $18.75 per share was declared, payable on August 2, 2021, to shareholders of record by July 13, 2021. Following the sale, Shentel will shift its focus to broadband services, including cable and fiber offerings, marking a significant transformation in its business strategy.

The Board of Directors of Shenandoah Telecommunications Company (NASDAQ: SHEN) announced a special dividend of $18.75 per share, totaling approximately $936.6 million, payable on August 2, 2021. Shareholders of record by July 13, 2021 will be eligible, with an ex-dividend date of August 3, 2021. The Company anticipates $19.6 million will be reinvested through its Dividend Reinvestment Plan, aimed at enhancing shareholder value following the sale of its Wireless assets to T-Mobile.

Shenandoah Telecommunications Company (NASDAQ: SHEN) has successfully closed the sale of its wireless assets to T-Mobile USA for $1.94 billion. This amount includes a $60 million settlement concerning management fees from Sprint, a T-Mobile subsidiary, and accounts for transaction expenses. The company utilized $684 million of the sale proceeds to fully repay its outstanding debt and terminate its credit facility. Shentel provides broadband services across the Mid-Atlantic and operates over 6,800 route miles of fiber and 223 macro cellular towers.

Shenandoah Telecommunications Company (Nasdaq: SHEN) announced the launch of its Beam Internet service in Kents Store and Stanardsville, Virginia, expanding high-speed internet access to over 1,300 households. This move is part of a broader initiative that has already reached over 20,000 households this year. Beam Internet offers download speeds of up to 100 Mbps, with prices starting at $60 per month, and utilizes licensed 2.5GHz and 3.5GHz spectrum along with 5G-ready LTE technology. The service aims to enhance connectivity in rural areas of Virginia.

Shenandoah Telecommunications Company (SHEN) has announced the expansion of its Glo Fiber network to Lynchburg, Virginia, enhancing its fiber-optic offerings for residential and business customers. With this new addition, Glo Fiber's network now covers over 42,000 households. Launched in 2019, Glo Fiber provides high-speed fiber-to-the-home (FTTH) internet, digital TV, and home phone services across several Virginia communities. The expansion showcases a significant capital investment aimed at increasing broadband competition in the area.

Shenandoah Telecommunications Company (Nasdaq: SHEN) has announced the expansion of its fiber-optic network through its Glo Fiber brand in Roanoke, Virginia. This development, launched on June 2, 2021, aims to provide gigabit broadband Internet access, live streaming TV, and digital phone services to both residential and business customers in the area. Leveraging a 6,800-mile regional fiber network, Glo Fiber emphasizes high speeds and low latency while maintaining competitive pricing. This initiative supports Roanoke's economic growth and offers several tiers of high-speed Internet access.

Shenandoah Telecommunications Company (NASDAQ: SHEN) announced that Edward "Ed" H. McKay will be the new Executive Vice President and Chief Operating Officer, effective July 3, 2021. McKay, a 25-year telecommunications veteran and with 17 years at Shentel, has previously held roles including Senior Vice President, Engineering & Operations. His leadership will focus on Shentel's integrated broadband business and tower portfolio. McKay succeeds David "Dave" L. Heimbach, who is resigning for a position at MetroNet, Inc.