ATN Board Increases Quarterly Dividend by 24% to $0.21 Per Share
BEVERLY, Mass., Dec. 19, 2022 (GLOBE NEWSWIRE) -- 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.”
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|