Welcome to our dedicated page for Uniti Group news (Ticker: UNIT), a resource for investors and traders seeking the latest updates and insights on Uniti Group stock.
Uniti Group Inc. reports developments tied to its fiber communications business, including Kinetic residential broadband expansion, multi-gigabit internet services, whole-home Wi-Fi, internet security, voice offerings, and enterprise and wholesale connectivity. The company operates through brands that include Uniti Wholesale, Kinetic, Uniti Fiber, and Uniti Solutions, serving consumers and businesses across U.S. markets.
Recurring Uniti news also covers broadband builds in state and local markets, service bundles such as Kinetic fiber internet with streaming television options, investor conference participation, operating and financial results, customer contract activity, and debt financing or refinancing actions affecting the company’s capital structure.
Uniti Group Inc. announced a private offering of $300 million aggregate principal amount of 10.50% Senior Secured Notes due 2028. The notes will be guaranteed by the Company and its subsidiaries, secured by first-priority liens on their assets. The proceeds will be used for general corporate purposes, potentially including funding the merger with Windstream.
Uniti Group Inc. reported solid first quarter 2024 results, featuring a 4% growth in core recurring strategic fiber business, successful lease-up strategy, and decreasing capital intensity. The merger with Windstream promises enhanced network reach and financial profile, positioning the company for future growth. Quarterly revenues stood at $286.4 million, with net income of $41.3 million and Adjusted EBITDA of $228.6 million. AFFO per diluted common share was $0.32. The Company had approximately $470.1 million in unrestricted cash at quarter-end and declared a quarterly cash dividend of $0.15 per common share.
Uniti Group Inc. announced a merger with Windstream Holdings II, to create a premier fiber provider in the U.S. The merger will result in Uniti shareholders holding 62% of the common equity, while Windstream shareholders will hold 38%. The combined company will have a strong presence in Tier II and III markets, serving over 1.1 million customers. The merger is expected to enhance free cash flow, generate synergies, align capital allocation objectives, de-lever the balance sheet, and offer strategic optionality. The transaction is set to close in the second half of 2025.
Uniti Group Inc. declared a quarterly cash dividend of $0.15 per share, payable on June 28, 2024 to stockholders of record on June 14, 2024.
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