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. (Nasdaq: UNIT) reported third-quarter 2020 revenues of $258.8 million and a net income of $7.5 million. The Company’s Adjusted Funds From Operations (AFFO) were $92.5 million, or $0.42 per diluted share. The quarter marked a robust performance by Uniti Fiber, contributing $76.4 million in revenue. Uniti announced a strategic OpCo-PropCo transaction with Everstream, providing approximately $135 million in cash and ongoing revenues. The company maintains a strong liquidity position with $484 million in cash, and declared a $0.15 cash dividend for the upcoming quarter.
Uniti Group announced the dismissal of all claims in a securities lawsuit filed by SLF Holdings against it and its officers. The U.S. District Court for Delaware ruled on November 4, 2020, that amending the complaint would be futile and dismissed SLF’s claims with prejudice. The lawsuit alleged failure to disclose risks related to Windstream’s bankruptcy, but the court found Uniti's disclosures were adequate, rejecting claims of conspiracy to mislead investors.
Uniti Group Inc. (Nasdaq: UNIT) announced a quarterly cash dividend of $0.15 per share payable on January 4, 2021 to stockholders of record on December 15, 2020. This dividend reflects Uniti's commitment to delivering value to its shareholders as an internally managed real estate investment trust specializing in acquiring and constructing vital communications infrastructure. By June 30, 2020, Uniti owned 6.5 million fiber strand miles across the U.S., establishing itself as a key provider in the wireless infrastructure sector.
Uniti Group Inc. (Nasdaq: UNIT) will release its Q3 2020 financial results after the market closes on November 9, 2020. A conference call to discuss these results is scheduled for the same day at 4:15 PM Eastern Time. Investors can join the call by dialing (844) 513-7153 or (508) 637-5603 for international attendees, using conference ID 3536128. Uniti, a real estate investment trust, specializes in mission-critical communications infrastructure and owns 6.5 million fiber strand miles across the U.S. More details can be found on their website.
Uniti Group announced the filing of a prospectus supplement with the U.S. SEC to register the resale of approximately 18.2 million shares of its common stock, previously issued to certain creditors of Windstream as part of a settlement. This filing fulfills Uniti's obligations under disclosed stock purchase agreements. Importantly, Uniti will not issue or sell any shares through this prospectus supplement. As of June 30, 2020, Uniti owns 6.5 million fiber strand miles and operates in the communications infrastructure sector.
Uniti Group Inc. (Nasdaq: UNIT) announced the launch of nationwide dark fiber services across 31,000 fiber route miles in 35 states, enhancing its existing fiber network to over 3 million strand miles. This expansion, rooted in a settlement with Windstream, aims to meet increasing demands for connectivity from various sectors including content providers and telecom operators. The network addresses challenges such as bandwidth needs driven by remote work and 5G solutions. Uniti's infrastructure supports critical communications, positioning it as a leader in fiber solutions.
Uniti Group announced that its Executive Vice President and CFO, Mark Wallace, along with Senior VP of Sales, Joe McCourt, will attend Deutsche Bank’s 28th Annual Leveraged Finance Conference on October 6 & 7, 2020. Uniti, a real estate investment trust, specializes in the acquisition and construction of critical communications infrastructure. As of June 30, 2020, the company owns 6.5 million fiber strand miles across the U.S., enhancing its position as a leading provider of wireless infrastructure solutions.
Uniti Group announced that its Executive Vice President and CFO, Mark Wallace, along with Senior Vice President of Sales, Joe McCourt, will be attending Deutsche Bank's 28th Annual Leveraged Finance Conference on October 6-7, 2020. Uniti is a real estate investment trust focused on mission-critical communications infrastructure, owning 6.5 million fiber strand miles as of June 30, 2020. For more information, visit www.uniti.com.
Uniti Group Inc. (UNIT) announced the effective settlement with Windstream Holdings, coinciding with Windstream's emergence from bankruptcy. This settlement resolves all claims between Uniti and Windstream, enhancing Uniti's strategic position by expanding its fiber footprint by approximately 90%. CEO Kenny Gunderman noted significant benefits including improved credit structures through new master leases. This development marks a pivotal moment for Uniti, allowing it to leverage expanded operational capacity and financial stability.
Harmoni Towers LLC, formerly Uniti Towers, announced its name change following the acquisition of 90% of the company by Melody Investment Advisors in June 2020. The rebranding aims to enhance its market position and growth potential amidst the 5G rollout. Harmoni Towers retains its management team and has built over 500 towers since 2017, currently marketing over 1,000 site locations across the U.S. Executives emphasize continued service excellence and infrastructure expansion to meet rising demand for wireless solutions.