In a remarkable display of market resilience, Telephone and Data Systems Inc (NYSE:TDS) stock has reached a new 52-week high, with shares peaking at $35.39. The company, with a market capitalization of $4 billion, maintains a "Fair" financial health score according to InvestingPro analysis. This milestone underscores a period of significant growth for the telecommunications company, which has seen its stock value surge by an impressive 91.38% over the past year. Investors have shown increased confidence in TDS's strategic initiatives and market position, propelling the stock to levels not seen in the last year and reflecting a bullish outlook for the company's future performance. Notable is TDS's 51-year track record of consecutive dividend payments, though InvestingPro analysis suggests the stock may be trading above its Fair Value. [Get access to 8 more exclusive ProTips and comprehensive analysis for TDS on InvestingPro.]
In other recent news, Telephone & Data Systems Inc. has made significant strides in its governance and financial growth. The company announced the appointment of Napoleon B. Rutledge Jr. to its Board of Directors, a move anticipated to bolster governance and oversight capabilities. Rutledge brings extensive financial experience and will also serve on the company's Audit Committee.
On the financial front, TDS US Cellular reported a 3% improvement in adjusted EBITDA for the third quarter of 2024, despite a decrease in service revenues due to a shrinking subscriber base. The company also recorded a $136 million impairment loss on millimeter wave licenses, but expects significant proceeds from the sale of spectrum licenses, projected to surpass their book value.
In addition to these developments, the company updated its bylaws to align with Delaware law and current practices, requiring stockholders to provide more detailed procedural and disclosure information when nominating directors or proposing business. TDS US Cellular is also in the process of selling wireless operations and spectrum to T-Mobile, expected to close by mid-2025, and is expanding its fiber network, aiming to achieve 1.2 million marketable fiber addresses. These are all recent developments indicating a period of strategic transactions and growth for the company.
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