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Telephone and Data Systems Inc (TDS) provides investors and stakeholders with centralized access to official corporate communications through this comprehensive news hub. Track all material developments across the company's wireless, broadband, and managed IT service divisions.
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The board of directors of Telephone and Data Systems (NYSE: TDS) has declared dividends for Q3 2021. Common and Series A shareholders will receive a quarterly dividend of $0.175 per share. Additionally, holders of Series UU Preferred Shares will receive $414.0625 per share, with depositary share holders receiving $0.4140625. These dividends are payable on September 30, 2021, to stockholders of record as of September 15. TDS provides a range of telecommunications services nationwide.
On August 10, 2021, Telephone and Data Systems (TDS) priced an offering of 24 million depositary shares, each representing a 1/1,000th interest in its 6.000% Cumulative Redeemable Perpetual Preferred Stock, Series VV, at an aggregate price of $600 million. TDS plans to use the proceeds to redeem $116.3 million of senior notes and $125 million of borrowings under a revolving credit agreement, along with general corporate purposes, including funding capital expenditures for its fiber-to-the-home program. The offering is expected to close around August 16, 2021.
TDS reported Q2 2021 total operating revenues of $1,311 million, up from $1,263 million a year ago. However, net income fell to $20 million or $0.17 per share from $65 million or $0.56 per share in Q2 2020. The company expressed optimism regarding its 5G initiatives and fiber expansion, with broadband connections increasing and 1Gig speeds available to over half of service addresses. Full-year estimates remain unchanged for both UScellular and TDS Telecom.
Telephone and Data Systems, Inc. (TDS) and United States Cellular Corporation (UScellular) will hold a conference call to discuss their second quarter operating results on August 6, 2021, at 9:00 a.m. CT. Financial results will be released on August 5, 2021, after market close. Investors can access the live and on-demand webcast via the companies' investor relations websites. TDS serves approximately 6 million connections nationwide in wireless, broadband, and managed services, employing about 9,100 associates.
OneNeck IT Solutions has been recognized on CRN's 2021 Solution Provider 500 list for the seventh consecutive year. This list ranks the top 500 solution providers across North America based on revenue. In 2020, companies on the list collectively generated $403 billion, marking a 3% increase from the previous year's $393 billion. OneNeck's CEO, Terry Swanson, attributed this recognition to the expertise of their employees in navigating the hybrid IT landscape. The complete list is accessible via CRN's website.
On May 21, 2021, Telephone and Data Systems (TDS) announced its second quarter 2021 dividends, declaring a quarterly dividend of $0.175 per Common and Series A Common Share, payable on June 30, 2021, to shareholders on record as of June 15, 2021. Additionally, TDS will pay $552.0833 per share on its 6.625% Series UU Preferred Shares, equating to $0.5520833 per depositary share. TDS connects approximately 6 million users through its subsidiaries, including UScellular and TDS Telecom.
Telephone and Data Systems and United States Cellular Corporation announced their upcoming Annual Meetings of Shareholders. UScellular's meeting is scheduled for May 18, 2021, at 8:30 a.m. Central time, while TDS' meeting will occur on May 20, 2021, at 9:00 a.m. Central time. Both meetings will be webcast live and available on-demand. Interested participants should register at least 15 minutes before the meetings. TDS serves around 6 million connections through its various businesses.
TDS reported a strong first quarter of 2021 with total operating revenues of $1,318 million, up from $1,261 million year-on-year. Net income was $57 million, or $0.48 per diluted share, down from $69 million or $0.59 per share in Q1 2020. UScellular saw increased service revenues and significant growth in residential customers for TDS Telecom, which also reported robust broadband service expansion plans. Estimated full-year results show positive adjustments for both UScellular and TDS Telecom, with reaffirmed capital expenditures.
OneNeck IT Solutions has been recognized for the seventh consecutive year in the CRN Tech Elite 250 list. This prestigious recognition celebrates North American IT solution providers with the highest number of advanced technical certifications from leading technology suppliers, adjusted for company size. The selection process involved extensive research by The Channel Company, ensuring only the most qualified providers were honored. OneNeck's commitment to ongoing certification and technical proficiency enables them to deliver outstanding service across various technologies.
Telephone and Data Systems (TDS) and United States Cellular Corporation (UScellular) will host a conference call to discuss their first quarter operating results on May 7, 2021, at 9:00 a.m. CT. Financial results will be released on May 6, 2021, after market close. Interested parties can access the webcast via the companies' investor relations websites. TDS, a Fortune 1000 company, serves approximately 6 million connections nationwide through its subsidiaries. Founded in 1969, TDS is headquartered in Chicago and employed 9,200 people as of December 31, 2020.
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