United States Cellular Announces $23 Special Dividend Payment

United States Cellular has declared a special dividend of $23.00 per share. The dividend will be payable on August 19 for shareholders of record on August 11, and the ex-dividend date is August 20. This dividend is in addition to the company's regular dividend payments.

United States Cellular Corporation (NYSE: USM), now known as Array Digital Infrastructure, Inc., has announced a significant special dividend of $23.00 per share. This dividend is payable on August 19, 2025, to shareholders of record on August 11, 2025 [1]. The ex-dividend date is set for August 20, 2025, the first business day following the payment date [1].

The declaration of this special dividend comes after the company closed the sale of its wireless operations to T-Mobile. As part of the transaction, the company changed its name to Array Digital Infrastructure, Inc. [2]. The special dividend is more than 25% of the current stock price, which has led the New York Stock Exchange (NYSE) to implement "due bills" procedures [1]. These due bills represent an assignment of the right to receive the special dividend up through and inclusive of the payment date of August 19, 2025 [1]. Stockholders who sell their shares on or before the payment date will not be entitled to receive the special dividend [1].

The due bill obligations are typically settled between the brokers representing the buyers and sellers of the securities. Buyers and sellers of Array common stock are advised to consult with their brokers before trading to understand the effect of NYSE's due bill procedures [1]. Array has no obligations for either the amount of the due bill or the processing of the due bill [1]. Shareholders are also urged to consult their tax advisors for tax treatment [1].

Array Digital Infrastructure, Inc. is a leading owner and operator of shared wireless communications infrastructure in the United States. With over 4,400 cell towers in locations from coast to coast, the company enables the deployment of 5G and other wireless technologies throughout the country [2]. Headquartered in Chicago, Array is an approximately 81% owned subsidiary of Telephone and Data Systems, Inc. (NYSE: TDS) [2].

Array expects to hold its 2025 annual meeting of shareholders on Thursday, October 9, 2025 [2].

References:
[1] https://www.morningstar.com/news/pr-newswire/20250801cg43005/array-declares-special-dividend-of-2300-per-share-following-the-sale-of-the-uscellular-wireless-operations
[2] https://finance.yahoo.com/news/array-declares-special-dividend-23-213500106.html