United States Cellular Corporation (NYSE:USM) Declares Dividend Increase - $23.00 Per Share

Key Points

• United States Cellular Corporation announced a special dividend of $23.00 per share, a significant increase of 39,900% from the previous dividend of $0.06.
• Shareholders of record on August 11th will receive the payment on August 19th, with the ex-dividend date set for August 20th.
• The company's recent earnings report revealed an EPS of $0.36, surpassing estimates, along with revenues of $916 million for the quarter.

United States Cellular Corporation (NYSE:USM - Get Free Report) declared a special dividend on Monday, August 4th. Shareholders of record on Monday, August 11th will be given a dividend of 23.00 per share by the Wireless communications provider on Tuesday, August 19th. The ex-dividend date is Wednesday, August 20th. This is a 39,900.0% increase from United States Cellular's previous special dividend of $0.06.

United States Cellular Stock Performance

United States Cellular stock traded up $3.63 during trading hours on Thursday, hitting $77.88. The stock had a trading volume of 1,000,445 shares, compared to its average volume of 467,326. The company has a 50-day moving average of $68.81 and a two-hundred day moving average of $66.25. The company has a quick ratio of 1.48, a current ratio of 1.70 and a debt-to-equity ratio of 0.62. The company has a market cap of $6.62 billion, a PE ratio of -259.59 and a beta of 0.38. United States Cellular has a fifty-two week low of $51.20 and a fifty-two week high of $79.17.

United States Cellular (NYSE:USM - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $916.00 million during the quarter, compared to analysts' expectations of $907.73 million. United States Cellular had a positive return on equity of 1.68% and a negative net margin of 0.68%. On average, equities research analysts anticipate that United States Cellular will post 0.57 EPS for the current fiscal year.

Institutional Trading of United States Cellular

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of United States Cellular by 73.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 872 shares of the Wireless communications provider's stock valued at $56,000 after acquiring an additional 368 shares in the last quarter. Lazard Asset Management LLC increased its position in United States Cellular by 263.8% during the second quarter. Lazard Asset Management LLC now owns 3,063 shares of the Wireless communications provider's stock worth $195,000 after buying an additional 2,221 shares during the last quarter. Engineers Gate Manager LP acquired a new position in United States Cellular during the second quarter worth approximately $639,000. BNP Paribas Financial Markets increased its position in United States Cellular by 231.8% during the second quarter. BNP Paribas Financial Markets now owns 740 shares of the Wireless communications provider's stock worth $47,000 after buying an additional 517 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in United States Cellular during the second quarter worth approximately $915,000. Institutional investors and hedge funds own 18.03% of the company's stock.

United States Cellular Company Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers, as well as wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.