TDS announces second quarter 2020 dividend

CHICAGO, May 22, 2020 /PRNewswire/ -- The board of directors of Telephone and Data Systems, Inc. (NYSE: TDS), a leading provider of telecommunications services, has declared a second quarter 2020 dividend of $0.17 per Common Share and Series A Common Share. Payment will be made on June 30, 2020, to shareholders of record as of June 16, 2020.

"We are investing in the TDS family of businesses to bring our customers ever higher-quality wireless and broadband services that position the company for long-term sustainability and growth," said LeRoy T. Carlson, Jr. "At the same time, we have continued to return value to our shareholders primarily through cash dividends which have increased every year for the past 46 years. 

"At TDS, we believe that being a good corporate citizen is fundamental to our long-term success.  I am delighted to announce a new sustainability section of our corporate website, tdsinc.com/sustainability, which showcases our environmental, social and governance initiatives. These responsible practices aren't new for TDS. The site takes high-level content, from existing business unit websites, and presents it thematically in one space. The site will evolve over time as new projects are completed and new information becomes available."

About TDS
Telephone and Data Systems, Inc. (TDS), a Fortune 1000® company, provides wireless; cable and wireline broadband, video and voice; and hosted and managed services to approximately 6 million connections nationwide through its businesses, U.S. Cellular, TDS Telecom, BendBroadband and OneNeck IT Solutions. Founded in 1969 and headquartered in Chicago, TDS employed 9,400 people as of March 31, 2020.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company's plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to:  the impact, duration and severity of the COVID-19 pandemic; intense competition; the ability to execute TDS' business strategy; uncertainties in TDS' future cash flows and liquidity and access to the capital markets; the ability to make payments on TDS and U.S. Cellular indebtedness or comply with the terms of debt covenants; impacts of any pending acquisitions/divestitures/exchanges of properties and/or licenses, including, but not limited to, the ability to obtain regulatory approvals, successfully complete the transactions and the financial impacts of such transactions; the ability of the company to successfully manage and grow its markets; the access to and pricing of unbundled network elements; the ability to obtain or maintain roaming arrangements with other carriers on acceptable terms; the state and federal telecommunications regulatory environment; the value of assets and investments; adverse changes in the ratings of TDS and U.S. Cellular debt securities by accredited ratings organizations; industry consolidation; advances in telecommunications technology; pending and future litigation; changes in income tax rates, laws, regulations or rulings; changes in customer growth rates, average monthly revenue per user, churn rates, roaming revenue and terms, the availability of wireless devices, or the mix of services and products offered by U.S. Cellular and TDS Telecom. Investors are encouraged to consider these and other risks and uncertainties that are discussed in documents used by TDS to furnish to the Securities and Exchange Commission.

For more information about TDS and its subsidiaries, visit:

TDS: www.tdsinc.com
U.S. Cellular: www.uscellular.com
TDS Telecom: www.tdstelecom.com
OneNeck IT Solutions: www.oneneck.com

SOURCE Telephone and Data Systems, Inc.