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U.S. Cellular to Pay Special Dividend

Payout based on wireless carrier selling several markets to Verizon.

By Rich Duprey – May 18, 2013 at 10:45AM EST

Following the sale of several wireless markets to Verizon in which U.S. Cellular (USM 0.49%) received $480 million, the cellular services provider announced yesterday that it will be paying investors a special dividend of $5.75 per share.

The board of directors said the special dividend is payable on June 25 to the holders of record at the close of business on June 11.

U.S. Cellular President and CEO said: "We have a strong balance sheet and ample liquidity from our cash balances and the recent divestiture transaction, enabling us to issue this special cash dividend and continue to invest in our business and pursue our strategic initiatives to position U.S. Cellular for long-term success."

The Chicago-based wireless carrier does not pay a regular dividend.

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About the Author

Rich Duprey
Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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Stocks Mentioned

Array Digital Infrastructure Stock Quote
Array Digital Infrastructure
NYSE: AD
$46.29
(-0.49%)-$0.23

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