Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Shenandoah Telecommunications Company Announces Expected Use of Proceeds from $1.95 billion .
Shenandoah Telecommunications CoFebruary 3, 2021 GMT
Shentel expects to issue an $18.75 per share special dividend to Shentel shareholders
The Company Provides Preliminary 2020 Financial Results and 2021 Financial Outlook
EDINBURG, Va., Feb. 03, 2021 (GLOBE NEWSWIRE) Shenandoah Telecommunications Company (“Shentel”) (NASDAQ: SHEN) announced today the expected uses of the approximately $1.5 billion of after-tax proceeds to be received from the sale of Shentel’s Wireless assets and operations (“Shentel Wireless”) to T-Mobile US, Inc. (“T-Mobile”). Shentel currently expects to use the proceeds to, among other things:
1) Adjusted OIBDA is a financial measure that is not determined in accordance with U.S. generally accepted accounting principles ( GAAP ). Reconciliation of this non-GAAP financial measure to the most directly comparable GAAP measure is provided at the end of this press release.
Shentel has not yet completed its financial and operating closing procedures for the year ended December 31, 2020, nor has the preliminary financial data above been subject to audit, review or other procedures by Shentel s independent registered public accounting firm. As a result, actual results may differ materially from the preliminary results shown above and will not be publicly available until Shentel reports its fourth quarter and full year 2020 results in late February 2021.
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Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
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