Shenandoah Telecom: 4Q Earnings Snapshot
By Associated Press | Published Feb. 26, 2021 7:09 a.m.
EDINBURG, Va. (AP) _ Shenandoah Telecommunications Co. (SHEN) on Thursday reported fourth-quarter earnings of $49.3 million.
The Edinburg, Virginia-based company said it had net income of 98 cents per share. Earnings, adjusted to account for discontinued operations, were 3 cents per share.
The telecommunications service provider in parts of Maryland, Pennsylvania, Virginia and West Virginia posted revenue of $58.1 million in the period.
For the year, the company reported profit of $126.7 million, or $2.53 per share. Revenue was reported as $220.8 million.
Shenandoah Telecom expects full-year revenue in the range of $241 million to $248 million.
Shenandoah Telecom shares have increased 5% since the beginning of the year. The stock has fallen 6% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHEN at https://www.zacks.com/ap/SHEN
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Shentel and T-Mobile make a deal
Shenandoah Telecommunications Company (Shentel) announced the purchase price of their wireless assets by T-Mobile is complete at $1.95 billion.
Shentel and T-Mobile expect the transaction will close in the second quarter of 2021.
After-tax proceeds for Shentel will be approximately $1.5 billion.
Shentel plans to use the proceeds to, among other things:
- Repay approximately $702 million of outstanding term loans and swap liabilities and terminate the respective agreements;
- Issue a special dividend of $18.75 per share to Shentel’s shareholders;
- Provide adequate liquidity for growth and potential strategic acquisitions; and
- Provide liquidity for general corporate purposes.
Shentel expects to pay the special dividend in the second quarter 2021 after the close of the Shentel Wireless transaction, subject to the approval of Shentel’s Board of Directors.
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