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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.
Glo Fiber, part of Shenandoah Telecommunications Company (SHEN), has initiated construction for its all-fiber network in Hanover, PA.
Service is anticipated to launch by late October 2021, offering multi-gigabit broadband to over 6,000 homes and businesses.
The network promises high-speed internet, streaming TV, and digital phone services. Glo Fiber's pricing is all-inclusive, ensuring no hidden fees. This expansion aims to meet the growing demand for reliable internet in the community, aligning with Shentel's vision of providing superior local service.
Shenandoah Telecommunications Company (Nasdaq: SHEN) announced a significant expansion of its Beam fixed wireless broadband service to Buckingham and Greene Counties, benefitting over 1,000 households. This move is part of a broader rollout, providing service to over 22,000 households this year. Beam delivers high-speed internet with download speeds up to 100 Mbps at starting prices of $60 per month. The service utilizes licensed mid-band spectrum and 5G-ready technology to connect rural areas, addressing the increasing demand for reliable internet.
Glo Fiber, powered by Shenandoah Telecommunications Company (Nasdaq: SHEN), announced an agreement to expand its fiber-to-the-home (FTTH) network in Suffolk, VA. Starting in 2022, this initiative aims to deliver high-speed, multi-gigabit internet access to over 30,000 homes and businesses, enhancing local broadband infrastructure. The project underscores Glo Fiber's commitment to reliable, affordable internet services using Shentel's extensive 7,000-mile fiber network. Local officials express support, recognizing the competitive benefits for residents and businesses alike.
Glo Fiber, part of Shenandoah Telecommunications Company (SHEN), plans to build a fiber network in Carlisle, PA, launching services in Q4 2021. The initiative aims to provide high-speed internet, streaming TV, and digital phone services to over 7,000 homes and businesses, leveraging Shentel's extensive 7,000-mile fiber network. Glo Fiber offers multi-gigabit symmetrical internet with no hidden fees, emphasizing local customer service. This expansion reflects Shentel's commitment to enhancing internet access in smaller communities in the Mid-Atlantic region.
On August 24, 2021, Shenandoah Telecommunications Company (SHEN) announced the expansion of its Glo Fiber network into Frederick County, VA, aimed at both residential and business customers. This expansion will connect approximately 14,000 additional homes and businesses, enhancing internet services in areas like Winchester and Stephens City. Glo Fiber, established in 2019, offers high-speed fiber-to-the-home services leveraging a 7,000-mile fiber network. The construction is expected to complete in 2022, aligning with Shentel's mission to improve internet access in rural communities.
Shenandoah Telecommunications Company (Shentel) (Nasdaq: SHEN) is expanding its high-speed Internet service, Beam, to rural areas in Barbour, Orange, and Page Counties. This initiative will enhance Internet access for over 1,600 households, contributing to the total of 22,000 households served this year. Beam offers download speeds up to 100 Mbps starting at $60 per month, without hidden fees. With a focus on underserved communities, Shentel leverages advanced LTE technology and local infrastructure to deliver reliable service.
Shenandoah Telecommunications Company (Nasdaq: SHEN) reported robust second-quarter 2021 results with revenue growth of 11.7% to $60.7 million and Adjusted OIBDA growing 29.6% to $16.3 million. The company completed the sale of its Wireless assets to T-Mobile for $1.94 billion, allowing for a special dividend of $18.75 per share, totaling approximately $937 million. Broadband RGUs increased 20.3% year over year, and operational adjustments led to a significant decrease in corporate expenses. The company maintains its favorable outlook for the remainder of 2021.
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.