Array Digital Infrastructure Announces Special Cash Dividend

Strategic Insights -

Array Digital Infrastructure, Inc., formerly United States Cellular Corporation, has declared a special cash dividend of $23.00 per Common Share and Series A Common Share. This unprecedented dividend is payable on August 19, 2025, to shareholders of record on August 11, 2025. The dividend is notable for being more than 25% of the current stock price, prompting the New York Stock Exchange (NYSE) to issue "due bills" representing an assignment of the right to receive the Special Dividend. Shareholders who sell their shares on or before the payment date will not be entitled to receive the Special Dividend.

Key Takeaways:

  • Array Digital Infrastructure, Inc. has declared a special cash dividend of $23.00 per Common Share and Series A Common Share.
  • The special dividend is payable on August 19, 2025, to shareholders of record on August 11, 2025.
  • The dividend is more than 25% of the current stock price, triggering the NYSE's "due bills" procedure.
  • Shareholders who sell their shares on or before the payment date will not receive the special dividend.
  • The due bill obligations are settled between brokers representing buyers and sellers, with no obligation from Array.
  • Shareholders are advised to consult their tax advisor for tax treatment.

Statistics:

  • Special cash dividend amount: $23.00 per Common Share and Series A Common Share
  • Payment date: August 19, 2025
  • Record date: August 11, 2025
  • Ex-dividend date: August 20, 2025
  • Due bills procedure triggered: Yes, due to dividend being more than 25% of current stock price

Sources:

  • Array Digital Infrastructure, Inc. (press release)
  • New York Stock Exchange (NYSE)
  • United States Securities and Exchanges Commission (SEC)
  • Array Digital Infrastructure, Inc. ( statutory documents)