Telephone and Data Systems, Inc.

TDS announces third quarter 2026 dividends

Telephone and Data Systems' board declared third quarter 2026 dividends for its Common, Series A, Series UU Preferred, and Series VV Preferred shares. The Common and Series A quarterly dividend is $0.04 per share, payable September 30, 2026 to holders of record on September 15. Dividends for Series UU and Series VV preferred depositary shares were set at $0.4140625 and $0.3750000 per share, respectively, with the same record and payment dates.

•2mo ago

TDS: 10-Q · periodic report

TDS swung to second-quarter net income attributable to common shareholders of $281.1 million ($2.42 diluted EPS) from a $5.7 million loss a year earlier, driven primarily by gains on wireless spectrum license sales to Verizon and AT&T. Total operating revenues rose 4% year over year to $309.3 million. The filing details a sweeping transformation: Array closed $1.0 billion of spectrum sales to Verizon and $1.018 billion to AT&T during 2026, lifting cash to $2.19 billion, cutting long-term debt, and funding Array special dividends of $951.3 million and $885.5 million, from which TDS received $778.7 million and $725.6 million respectively. Array's tower site rental revenue jumped 95% on the new T-Mobile master lease agreement covering a minimum 2,015 additional sites. On May 7, 2026, TDS delivered a non-binding proposal to acquire all Array common shares it does not already own (Array is 81.9%-owned), and a special committee of independent Array directors is evaluating the offer as the broader strategic alternatives review continues. Watch items include a 6% revenue decline at TDS Telecom, negative free cash flow of $168.0 million for the first half on elevated fiber capex, DISH Wireless's payment failure and June 2026 bankruptcy, and roughly $170 million of cash taxes on the spectrum sales mostly payable in the third quarter.

SEC 10-Q•2mo ago

TDS reports second quarter 2026 results

TDS reported second quarter 2026 revenue of $309.3 million, up 4% year-over-year, while net income attributable to common shareholders swung to $260.6 million, or $2.24 per share, from a loss of $(0.05) per share in the prior year. The profitability turnaround was primarily driven by subsidiary Array, which closed $1.16 billion in spectrum sales and declared an $11 per share special dividend. TDS Telecom expanded its fiber footprint by 66,000 addresses and raised its 2026 guidance for marketable fiber service addresses to 250,000-300,000, though total service revenue declined 6% due to divestitures.

•2mo ago

Array completes sale of select spectrum assets to Verizon for $1.0 billion

Array Digital Infrastructure closed the sale of select spectrum assets to Verizon for $1.0 billion, completing a previously announced transaction. The company also finalized $168 million in spectrum sales to T-Mobile in May, primarily involving 700MHz and 600MHz licenses. Citing these proceeds and current cash on hand, the Board declared a special cash dividend of $11.00 per share, payable June 25, 2026. The release clarifies that this dividend is unrelated to the pending non-binding acquisition proposal from majority owner TDS, which remains under evaluation by a special committee.

•4mo ago

TDS reports first quarter 2026 results

TDS reported Q1 2026 total operating revenues of $309.5 million, up 7% year-over-year, driven by strong performance from both TDS Telecom and Array. Array's site rental revenues grew 92% YoY to $52.012 million, reflecting significant progress in optimizing its operations and securing healthy application volume. TDS Telecom expanded its marketable fiber service footprint to 1.1 million addresses, adding 10,900 residential fiber connections during the quarter. TDS has delivered a non-binding proposal to acquire all outstanding Array Common Shares not owned by TDS, which is currently being evaluated by a special committee of Array's board.

•5mo ago