Frontier Communications Corp (NASDAQ:FTR) announced that based on its recent financial performance, company’s board of directors had declared dividends for the 1Q2016. As per the reports, holders of company’s Series A 11.125% Mandatory Convertible Preferred Stocks are eligible to receive a total dividend of $2.78125 per share.
The dividend is payable in cash at the end of the current quarter on March 31, 2016, to shareholders as per the records at the end of business on March 11, 2016.
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Along with quarterly dividend, Frontier also announced a regular cash dividend of $0.105 per share of common stock, which is payable on March 31, 2016, to all the shareholders as per records at the end of March 11, 2016.
It’s not the first time when Frontier Communications has announced the dividend for its shareholders in the recent past. The company has been focusing on upgrading its services for many years. Not long ago, it had unveiled a new logo to ensure users continued their faith in company’s vision and creativity. Earlier, the logo had just Frontier, which created a lot of confusion many times. To avoid any such situation in the future, the board of directors of the company has decided to add complete name – Frontier Communications in its logo.
The logo was unveiled right before Frontier made the announcement regarding the $10.54 billion acquisition deal of broadband, wireline and FIOS assets of Verizon based in Florida, California and Texas. The acquisition deal is likely to get closed by the end of March 2016. With this transaction, Frontier Communications will become of the largest broadband, video, voice, data security, internet data access and bundled service providers in the country as well as the world.
Many network providers raised their voices in the country against this transaction, which caused troubles in the starting, but at the end, everything went well. Frontier Communications will keep all the investors updated about the future progress of this deal and other projects.