Shenandoah Telecommunications Company Announces 2020 Annual Dividend
October 27 2020 - 5:30PM
The Board of Directors of Shenandoah Telecommunications Company
(Shentel) (NASDAQ: SHEN) declared a cash dividend of $0.34 per
share.
The dividend is an increase of $0.05 per share or 17.2% over the
2019 dividend. The dividend will be payable December 1, 2020, to
shareholders of record as of the close of business on November 12,
2020. This dividend will be Shentel’s sixty-first consecutive year
of annual dividends. The dividend has increased in each of the past
eight years.
“We are pleased to announce a large increase in the annual cash
dividend, reflecting our strong cash flow generation in 2020,” said
President and CEO Christopher E. French. “Our financial growth
enables us to continue investing in the long-term growth of our
business segments while returning capital to our shareholders.”
About Shenandoah Telecommunications
Shenandoah Telecommunications Company (Shentel) provides a broad
range of diversified communications services through its high
speed, state-of-the-art wireless, cable and fiber optic networks to
customers in the Mid-Atlantic United States. The Company’s services
include: wireless voice and data; broadband internet, video, and
digital voice; fiber optic Ethernet, wavelength and leasing;
telephone voice and digital subscriber line; and tower colocation
leasing. Shentel is the exclusive personal communications service
(“PCS”) Affiliate of Sprint in a multi-state area covering large
portions of central and western Virginia, south-central
Pennsylvania, West Virginia, and portions of Maryland, Kentucky,
and Ohio. For more information, please visit www.shentel.com.
This release contains forward-looking statements that are
subject to various risks and uncertainties. The Company's actual
results could differ materially from those anticipated in these
forward-looking statements as a result of unforeseen factors. A
discussion of factors that may cause actual results to differ from
management's projections, forecasts, estimates and expectations, is
available in the Company’s filings with the SEC. Those factors may
include natural disasters, pandemics and outbreaks of contagious
diseases and other adverse public health developments, such as
COVID-19, changes in general economic conditions, increases in
costs, changes in regulation and other competitive factors.
For further information, please contact Jim Volk, Senior Vice
President-Finance and Chief Financial Officer, at 540-984-5168.
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