Shenandoah Telecommunications Company Announces 2024 Annual Dividend

Rhea-AI Summary

Shenandoah Telecommunications Company (SHEN) has declared a cash dividend of $0.10 per share, payable on December 2, 2024, to shareholders of record as of November 5, 2024. This represents an 11.1% increase ($0.01 per share) compared to the December 2023 dividend. The announcement marks Shentel's sixty-fifth consecutive year of annual dividends, reflecting the company's confidence in its Glo Fiber expansion plans.

Positive

• 11.1% dividend increase from previous year
• 65-year track record of consecutive annual dividends
• Management expresses confidence in growth prospects

Negative

• None.

EDINBURG, Va., Oct. 23, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Shenandoah Telecommunications Company (Shentel) (NASDAQ: SHEN) declared a cash dividend of $0.10 per share.

The dividend will be payable December 2, 2024, to shareholders of record as of the close of business on November 5, 2024. This dividend is an increase of $0.01 per share or 11.1% over the December 2023 dividend and will be Shentel’s sixty-fifth consecutive year of annual dividends.

“We are pleased to announce an increase in the annual dividend, demonstrating our confidence in the long-term growth prospects of our Glo Fiber expansion plans.” said President and CEO Christopher E. French.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art fiber optic and cable networks to residential and commercial customers in eight contiguous states in the eastern United States. The Company’s services include: broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services. The Company owns an extensive regional network with over 16,000 route miles of fiber. For more information, please visit www.shentel.com.

This release contains forward-looking statements about Shentel regarding, among other things, its business strategy, its prospects and its financial position. These statements can be identified by the use of forward-looking terminology such as “believes,” “estimates,” “expects,” “intends,” “may,” “will,” “should,” “could,” or “anticipates” or the negative or other variation of these or similar words, or by discussions of strategy or risks and uncertainties. The forward-looking statements are based upon management’s beliefs, assumptions and current expectations and may include comments as to Shentel’s beliefs and expectations as to future events and trends affecting its business that are necessarily subject to uncertainties, many of which are outside Shentel’s control. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved, and actual results may differ materially from those contained in or implied by the forward-looking statements as a result of various factors. A discussion of other factors that may cause actual results to differ from management’s projections, forecasts, estimates and expectations is available in Shentel’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Reports on Form 10-Q. Those factors may include natural disasters, pandemics and outbreaks of contagious diseases and other adverse public health developments, such as COVID-19, changes in general economic conditions including high inflation, increases in costs, changes in regulation and other competitive factors. The forward-looking statements included are made only as of the date of the statement. Shentel undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as required by law.

CONTACT:

Shenandoah Telecommunications Company
Jim Volk
Senior Vice President, Chief Financial Officer
540-984-5168

FAQ

What is Shentel's (SHEN) dividend amount for 2024?

Shentel's dividend for 2024 is $0.10 per share, representing an 11.1% increase from the previous year.

When will Shentel (SHEN) pay its 2024 dividend?

Shentel will pay its 2024 dividend on December 2, 2024, to shareholders of record as of November 5, 2024.

How many consecutive years has Shentel (SHEN) paid dividends?

Shentel has paid annual dividends for 65 consecutive years, demonstrating a long-standing commitment to shareholder returns.

How much did Shentel (SHEN) increase its dividend in 2024?

Shentel increased its dividend by $0.01 per share, or 11.1%, compared to the December 2023 dividend.