ATN International hikes dividend by 23.5%

On December 19, 2022, ATN International (ATNI) declared a quarterly dividend of $0.21 per share, up from the previous quarterly dividend of $0.17 per share. This is the first dividend hike by ATNI since 2016 and follows a 50% dividend cut in 2017.

The 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, formerlyAtlantic Tele-Network, 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. ATN International, Inc., headquartered in Beverly, Massachusetts, operating subsidiaries today primarily provide 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 carrier and enterprise communications services, such as terrestrial and submarine fiber optic transport, and communications tower facilities.