ATN Board Increases Quarterly Dividend by 24% to $0.21 Per Share
20 December 2022 - 1:16AM
ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a
leading provider of digital infrastructure and communications
services, announced today that its board of directors has declared
a quarterly dividend of $0.21 per share, representing an increase
of approximately 24%, or four cents, from the dividend paid in the
previous quarter. The dividend is payable on January 6, 2023, on
all common shares outstanding to stockholders of record as of
December 31, 2022. ATN has provided dividends to investors every
quarter since 1999.
“In 2022, we remained focused on being the first
to build and own modern, core digital infrastructure in the markets
we serve, consistent with our ‘First-to-Fiber’ and Glass and
Steel™ strategies,” commented Michael Prior, Chief Executive
Officer of ATN. “As we continue with this investment program that
we believe will drive attractive long-term returns, we see an
opportunity to offer our shareholders increased current returns by
raising our quarterly dividend.
“We expect to continue to deploy a capital
allocation strategy that balances our business investments with
opportunities to return capital to investors, including both
dividends and selective stock buybacks. Meanwhile, we will
carefully manage capacity and risk on our balance sheet. Our
business model has proven to be resilient throughout a variety of
operating environments and economic cycles, and we remain confident
in our strategy and long-term growth prospects.”
About ATN
ATN International, Inc. (Nasdaq: ATNI),
headquartered in Beverly, Massachusetts, is a provider of
digital infrastructure and communications services in the
United States and internationally, including
the Caribbean region, with a focus on rural and remote
markets with a growing demand for infrastructure investments. The
Company’s operating subsidiaries today primarily provide: (i)
advanced wireless and wireline connectivity to residential,
business and government customers, including a range of high-speed
Internet and data services, fixed and mobile wireless solutions,
and video and voice services; and (ii) carrier and enterprise
communications services, such as terrestrial and submarine fiber
optic transport, and communications tower facilities. For more
information, please visit www.atni.com.
Cautionary Language Concerning Forward Looking
Statements
This press release contains forward-looking
statements relating to, among other matters, the Company’s future
financial performance, business goals and objectives, and results
of operations. These forward-looking statements are based on
estimates, projections, beliefs, and assumptions and are not
guarantees of future events or results. Actual future events and
results could differ materially from the events and results
indicated in these statements as a result of many factors,
including those that are set forth more fully under Item 1A “Risk
Factors” of the Company’s Annual Report on Form 10-K for the year
ended December 31, 2021, filed with the SEC on March 16, 2022 and
the other reports the Company files from time to time with the SEC.
The Company undertakes no obligation and has no intention to update
these forward-looking statements to reflect actual results, changes
in assumptions or changes in other factors that may affect such
forward-looking statements, except as required by law.
Contact: |
ATN
International, Inc. |
|
Justin D. Benincasa |
|
Chief Financial Officer |
|
978-619-1300 |
|
|
|
Polly Pearson |
|
Investor Relations |
|
ATNI@investorrelations.com |
|
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