Alaska Communications Declares One-time Dividend of $0.09 Per Share
March 10 2020 - 4:05PM
Business Wire
The Board of Directors of Alaska Communications Systems Group,
Inc. (the "Company") (NASDAQ:ALSK) today announced the Board of
Directors declared a one-time cash dividend of $0.09 per share, or
approximately $5 million. This dividend will be paid June 18, 2020
to shareholders of record as of April 20, 2020.
Alaska Communications Chairman David W. Karp said, “We are
encouraged by the Company’s strong performance over the past
several years and management’s ability to drive business and
wholesale revenue growth. The board is cognizant of balancing the
Company’s capital needs and shareholder value. With our strong
Adjusted Free Cash Flow performance for 2019, the board is pleased
to issue a one-time dividend and is confident that management will
continue to deliver long-term growth.”
The board emphasized that this is a one-time dividend, and there
are no immediate plans to reinstate a quarterly dividend. Although
the Company anticipates its financial performance will continue to
improve going forward, the amount and timing of dividends, if any,
remain subject to the discretion of the Company's board of
directors and will depend upon a number of factors, including
future earnings, financial condition, liquidity and capital
requirements of the Company, conditions specified under the
Company’s credit agreements and other factors deemed relevant by
the board of directors.
About Alaska Communications
Alaska Communications (NASDAQ: ALSK) is a leading provider of
advanced broadband and managed IT services for businesses and
consumers in Alaska. The company operates a highly reliable,
advanced statewide data and voice network with the latest
technology and the most diverse undersea fiber optic system
connecting Alaska to the contiguous U.S. For more information,
visit http://www.alaskacommunications.com or
http://www.alsk.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200310005832/en/
Alaska Communications Systems Group, Inc. Media
Contact: Heather Cavanaugh, 907-564-7722 or Investor
Contact: Tiffany Smith, 907-564-7556
investors@acsalaska.com
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