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Shenandoah Telecommunications Company (Shentel) reports developments in broadband communications, including Glo Fiber expansion markets, residential and commercial customer services, and network construction in smaller markets and rural communities.
The company provides broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services through fiber optic and cable networks in the eastern United States. Recurring updates cover quarterly results, Glo Fiber additions, government-supported broadband projects under Virginia Telecommunications Initiative programs, capital investment in fiber infrastructure, investor presentations, and community service activity across Shentel and Glo Fiber service areas.
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Glo Fiber, part of Shenandoah Telecommunications Company (SHEN), is set to launch its fiber optic services in Blacksburg, VA, in the first half of 2022. This expansion will provide high-speed internet to over 7,000 homes and businesses. Glo Fiber offers multiple tiers of symmetrical internet access and streaming services, utilizing advanced WiFi 6 technology for enhanced performance. The initiative aims to bolster Glo Fiber's commitment to delivering reliable and affordable internet throughout the Mid-Atlantic region, aligning with the company’s growth strategy.
Glo Fiber, a division of Shenandoah Telecommunications Company (SHEN), announced a partnership with James City County, VA, to deploy fiber-to-the-home (FTTH) broadband services. Construction is set to begin in 2022, targeting over 20,000 homes and businesses. This expansion supports Shenandoah's mission to provide reliable internet in underserved areas, enhancing their regional network capabilities. Glo Fiber offers multi-gigabit internet, streaming TV, and digital phone services with no hidden fees. The company utilizes a 7,000-mile fiber network to guarantee high speeds and excellent customer service across Virginia and neighboring states.
On November 23, 2021, Glo Fiber, a division of Shenandoah Telecommunications Company (SHEN), announced its expansion into Maryland with fiber service in Frederick. The service will be available in January, targeting approximately 20,000 homes and businesses. Glo Fiber offers high-speed, reliable internet access and will include three tiers of service with no hidden fees. Mayor Michael O'Connor emphasized the importance of this investment for the community. This expansion reflects Glo Fiber's commitment to providing dependable, affordable internet services across the Mid-Atlantic region.
Shenandoah Telecommunications Company (SHEN) reported strong Q3 2021 results with revenue increasing by 12.8% to $62.2 million. Adjusted OIBDA surged 31.7% to $19.3 million, and operating income saw a significant growth of 149.4% year-over-year. Earnings per share rose to $0.13. Broadband services added 4,100 new data RGUs. The company also upgraded its Glo Fiber target addresses from 300,000 to 450,000 by 2026. However, tower revenue declined by 1.2%.
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.
Glo Fiber, powered by Shenandoah Telecommunications Company (Nasdaq: SHEN), will expand its all-fiber network into Charles Town and Ranson, WV, with services starting in January 2022. This initiative will provide over 4,000 homes and businesses with high-speed internet, streaming TV, and digital phone services. Leveraging a 7,000-mile fiber network, Glo Fiber aims to deliver reliable and affordable connectivity. Local city managers expressed excitement for increased options for residents, emphasizing the importance of high-speed internet in growing areas like Jefferson County.
Shenandoah Telecommunications Company (SHEN) will release its third quarter 2021 financial results after market close on October 28, 2021. A conference call is scheduled for October 29, 2021 at 8:00 AM ET. Investors can listen via the company's website or by phone at (888) 695-7639, using the passcode 1977780. A replay will be available two hours after the call concludes. Shentel provides broadband services in the Mid-Atlantic region and operates an extensive network of over 7,000 route miles of fiber.
Glo Fiber, a division of Shenandoah Telecommunications Company (SHEN), has announced a partnership with Williamsburg, VA to provide fiber-to-the-home (FTTH) broadband services, set to commence construction in 2022. This initiative will deliver high-speed internet to approximately 4,000 homes and businesses, expanding Glo Fiber's reach in eastern Virginia. Glo Fiber's services include multi-gigabit internet access and phone service, leveraging a 7,000-mile fiber network for reliable connectivity. The project aligns with Williamsburg's vision of enhanced community connectivity.
Shenandoah Telecommunications Company (SHEN) announced the expansion of Glo Fiber's all-fiber, multi-gigabit broadband network in Martinsburg, WV, starting November 2021. This service will reach approximately 7,000 homes and businesses, offering high-speed internet, streaming TV, and digital phone services. Glo Fiber utilizes Shentel's 7,000-mile fiber network to ensure reliable connectivity and superior customer service. The local community, represented by Mayor Kevin Knowles, welcomes this investment as essential for growth.