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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.
Shentel plans to issue a special dividend of $18.75 per share following the expected $1.5 billion proceeds from the sale of its Wireless assets to T-Mobile US, Inc. This move aims to repay approximately $702 million in term loans and provide liquidity for growth and acquisitions. Preliminary financial results indicate an expected 11.1% revenue increase for 2021 and a 28.3% rise in adjusted OIBDA. The company aims to transform into a broadband-centric business and will hold a conference call on February 3, 2021 to discuss these developments.
Shenandoah Telecommunications Company (Shentel) has achieved MEF 3.0 certification, making it one of only 31 service providers globally with this recognition for Ethernet network services. This certification validates Shentel's commitment to providing high-value, carrier-grade Ethernet services that meet unique customer demands. The company aims to deliver advanced digital solutions to underserved markets in the Mid-Atlantic region. Shentel's efforts are aimed at bridging the digital divide by bringing sophisticated communications technologies to rural communities.
Shenandoah Telecommunications Company (NASDAQ: SHEN) announced that executives Dave Heimbach and Jim Volk will participate in a fireside chat at the UBS Global TMT Conference on December 8, 2020, at 7:30 a.m. ET. Investors can access a live webcast of the event on Shentel’s website, which will also feature a replay option for a limited time afterward.
Shentel offers diverse communication services across the Mid-Atlantic, including wireless voice and data, broadband internet, and fiber optic solutions.
Shenandoah Telecommunications Company (SHEN) reported strong third-quarter results for 2020, showing revenue growth to $55.2 million from $51.8 million a year earlier. Noteworthy highlights include 6,000 net additions in broadband data, continued success with Glo Fiber, and a cash dividend increase of 17.2%. The company is transitioning to a broadband-centric focus following T-Mobile's exercise of a purchase option for its wireless segment. Adjusted OIBDA rose to $14.6 million, while broadband RGUs increased by 19.8% year over year, reflecting high demand for internet services.
The Board of Directors of Shenandoah Telecommunications Company (SHEN) has declared a cash dividend of $0.34 per share, marking a 17.2% increase from the previous year. This dividend, which is set to be paid on December 1, 2020, is the company's sixty-first consecutive year of annual dividends, having increased for eight consecutive years. President and CEO Christopher E. French highlighted strong cash flow generation in 2020, enabling investment in growth while returning capital to shareholders.
Shenandoah Telecommunications Company (SHEN) is set to release its third quarter 2020 financial results on November 6, 2020, prior to the market opening. The company will host a conference call at 8:30 AM ET to discuss the results, accessible through both internet and telephone. Shentel provides diverse communications services, including wireless, broadband, and fiber optic solutions, primarily in the Mid-Atlantic region. It is also the exclusive Sprint Affiliate in parts of Virginia, Pennsylvania, West Virginia, and surrounding states.
Shenandoah Telecommunications Company (NASDAQ: SHEN) has successfully acquired 262 PALs in 74 counties during the FCC's CBRS mid-band spectrum auction, investing $16 million. The average cost per MHz POP was $0.133, significantly below the auction average. This acquisition will support Shentel's new Beam Internet service, launching this month, offering high-speed fixed wireless broadband in rural areas of Virginia, West Virginia, and Ohio. Initial pricing starts at $60 per month for speeds up to 100Mbps. Shentel aims to enhance broadband access amidst increasing demand due to the COVID-19 pandemic.
Shenandoah Telecommunications Company (Nasdaq: SHEN) reported impressive second quarter 2020 results, achieving record broadband net additions of 6,000 and substantial growth in wireless prepaid subscribers. Revenue reached $169.5 million, a rise from $158.9 million year-over-year, mainly due to a $21 million resolution in a travel dispute with Sprint. Adjusted OIBDA increased 20.9% to $80.9 million. However, the company faces challenges ahead with potential operational impacts from the T-Mobile and Sprint merger, as negotiations for future service agreements are ongoing.
Shenandoah Telecommunications Company (SHEN) is set to release its second quarter 2020 financial results on July 30, 2020, before market opening. A conference call will follow at 8:00 AM ET for investors and stakeholders to discuss the results. The company is recognized for providing diverse communications services in the Mid-Atlantic region, including wireless voice and data, broadband internet, and fiber optic solutions. Investors can listen to the call via the company’s website.
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