Frontier Communications Q1 Net Up 80%, Dividend Declared

Frontier Communications (NASDAQ: FTR  ) has announced its latest dividend payout as it reports an 80% boost in net income in its just-released quarterly results.

For the quarter, revenue was $1.21 billion, down from the $1.27 billion in the same period the previous year. Attributable net income, on the other hand, grew considerably to more than $48 million ($0.05 per share), beating Q1 2012's $27 million ($0.03).

Analysts had been expecting revenue of $1.22 billion and EPS of $0.06.

Frontier Communications also maintained its existing guidance. For full-year 2013, the company believes it will see capital expenditures of $625 million to $675 million, and free cash flow of $825 million to $925 million.

Lastly, the company declared a quarterly dividend. It will hand out $0.10 per share of its common stock on June 28 to shareholders of record as of June 7. This amount matches the company's previous five quarterly distributions.

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