Array Digital sells spectrum, sets special dividend
Array Digital Infrastructure, Inc., formerly United States Cellular Corporation, completed the previously announced sale of select wireless spectrum assets to AT&T for a cash purchase price of $1.018 billion.
Rhea-AI Filing Summary
Array Digital Infrastructure, Inc., formerly United States Cellular Corporation, completed the previously announced sale of select wireless spectrum assets to AT&T for a cash purchase price of $1.018 billion. The transaction closed on January 13, 2026 under a License Purchase Agreement originally signed on November 6, 2024, and included $232 million of value allocated to certain 700 MHz Designated Entity Spectrum Licenses, with no portion of the purchase price deferred.
On the same day, Array’s Board of Directors declared a special cash dividend of $10.25 per share for holders of its Common Stock and Series A Common Stock. Stockholders of record as of January 23, 2026 will receive the dividend, which is scheduled to be paid in cash on February 2, 2026. The company also issued a press release announcing the closing of the sale and related matters.
Positive
- Completed $1.018 billion all-cash spectrum sale to AT&T, providing a substantial immediate liquidity inflow with no deferred consideration.
- Declared a $10.25 per share special cash dividend for Common and Series A Common stockholders, representing a significant one-time capital return.
Negative
- None.
Insights
Array converts spectrum into $1.018B cash and returns part via a sizable special dividend.
Array Digital Infrastructure has closed the sale of select spectrum assets to AT&T for a cash purchase price of $1.018 billion. The deal includes $232 million allocated to certain 700 MHz Designated Entity Spectrum Licenses and was structured so that no portion of the purchase price is deferred, meaning the full consideration is received at closing.
Concurrently, the Board declared a special cash dividend of $10.25 per share for both Common Stock and Series A Common Stock. The dividend is payable to stockholders of record on January 23, 2026, with payment scheduled on February 2, 2026. This combination of a large, fully cash-funded asset sale and a notable one-time dividend is likely viewed as a significant capital return event.
8-K Event Classification
FAQ
What major transaction did Array Digital Infrastructure (AD) complete?
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What special dividend did Array Digital Infrastructure (AD) declare?
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Did the spectrum sale to AT&T involve any deferred purchase price?
AI-generated analysis. How Rhea-AI works. Not financial advice.
