Array completes $1.0 billion Verizon spectrum sale and declares $11.00 special dividend
Array completed the sale of select spectrum assets to Verizon for $1.0 billion in cash and declared a special cash dividend of $11.00 per share. The company says the dividend reflects the Verizon closing and other transactions alongside cash on hand, and it does not expect additional dividends in 2026. The special committee's evaluation of a non-binding acquisition proposal from TDS is separate, and the committee has not made a decision.
Key points
- Verizon paid $1.0 billion in cash at the June 1, 2026 closing of the spectrum sale
- Special dividend of $11.00 per share; record date June 11, 2026; payment date June 25, 2026
- Spectrum sales to T-Mobile totaling $168 million were completed in May 2026
- TDS's non-binding proposal dated May 7, 2026 remains under special committee review with no decision
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 01, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.