The company did show a 2% growth in business service revenues to $913 million and a 6% growth in consumer broadband service revenues to $120 million from Q2 2012. However, overall revenues declined 1% to $582 million for those same periods.
Yesterday, the company declared a quarterly dividend of $0.25 per share payable on Oct. 15 to stockholders of record as of Sept. 30. That is an 83% dividend-to-free-cash-flow payout ratio.
Windstream updated its outlook for the rest of 2013, expecting its total revenue to decline by 1% to 3% from its 2012 revenue. The company attributes this decline to "a modestly softer business sales environment and continuing pressure in the carrier transport business."
The company also announced it is considering forming a new publicly traded holding company that would become the parent to Windstream and its subsidiaries.
Windstream said it wouldn't make a final decision on its proposed holding company until its analysis is complete. It also said it "does not anticipate a change in its current dividend practice as a result of the formation of a holding company."