CTCI CT Communications (MM)

CT Communications Increases Dividend CONCORD, N.C., Nov. 1 /PRNewswire-FirstCall/ -- CT Communications, Inc. (NASDAQ:CTCI) announced today that its board of directors approved a common stock dividend of $0.07 per share, up 8 percent from the previous quarter's $0.065 per share. The new common stock dividend is payable on December 15, 2004, to all shareholders of record as of the close of business on December 1, 2004. CT Communications officials credit the increase in the dividend to the Company's initiatives to diversify revenue streams and improve operating margins and cash flow. During the past two years, CTC has aggressively grown its CLEC, Greenfield, Internet and Wireless businesses while reducing its debt by $57.7 million. In addition, the Company recently announced a $9 million investment initiative to enhance its broadband product capabilities in its ILEC territory. "Today's announcement reflects our confidence in the Company's ability to consistently grow earnings while maintaining a strong financial position," said Michael R. Coltrane, President and Chief Executive Officer of CT Communications, Inc. Increasing efficiency across the board has also helped CT Communications increase its operating cash flow, according to Coltrane. "Our focus the past two years has really paid off, and we're pleased and proud to be able to share the benefits of increased earnings with our shareholders," said Coltrane. About CT Communications, Inc. (CTC) CT Communications, Inc., which is headquartered in Concord, N.C., is a growing provider of integrated telecommunications and related services to residential and business customers located primarily in North Carolina. CT Communications, Inc. offers a comprehensive package of telecommunications and related services, including local and long distance telephone service, Internet and data services and digital wireless services. DATASOURCE: CT Communications, Inc. CONTACT: Nora Carr of Luquire George Andrews, +1-704-552-6565, or cell, +1-704-589-0784, or Web site: http://www.ctc.net/

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