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 has successfully completed the sale of 90% of its U.S. tower business to Melody Investment Advisors for approximately $220 million. This strategic move allows Uniti to retain a 10% investment interest in the tower operations. The transaction was facilitated by Goldman Sachs, serving as the exclusive financial advisor to Uniti. As of March 31, 2020, Uniti operates over 6.3 million fiber strand miles across the United States, emphasizing its role in the communications infrastructure sector.
LITTLE ROCK, Ark., May 19, 2020 (GLOBE NEWSWIRE) -- Uniti Group announced that President and CEO Kenny Gunderman, along with CFO Mark A. Wallace, will participate in Nareit’s 2020 REITweek Investor Conference. The presentation is set for 11:20 AM ET on June 2, 2020. Investors can access a live webcast of the event on Uniti’s website under the Investors tab. Uniti is a leading real estate investment trust focused on mission-critical communications infrastructure, owning 6.3 million fiber strand miles and around 700 wireless towers as of March 31, 2020.
Uniti Group announced first quarter 2020 revenues of $266.2 million with a net loss of $80.3 million. The U.S. Bankruptcy Court approved a settlement with Windstream, enhancing Uniti's network value and ensuring rent payments during the settlement period. Uniti modified its tower sale terms to Melody Investment Advisors, increasing cash consideration to $220 million and retaining a 10% stake. The company declared a quarterly dividend of $0.15 per share and updated its 2020 outlook, dependent on Windstream lease compliance.
Uniti Group announced a quarterly cash dividend of $0.15 per share, payable on July 10, 2020, to shareholders recorded by June 26, 2020. This dividend reflects the company's ongoing commitment to return value to its shareholders.
As of March 31, 2020, Uniti owns approximately 6.3 million fiber strand miles and 700 wireless towers, establishing itself as a leader in the communications infrastructure sector.
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