Sprint to pay dividend after spinoff
By JASON GERTZEN
The Kansas City Star
kansascity.com
Posted on Tue, Apr. 18, 2006
RESTON, Va. "Sprint Nextel Corp. today said it will pay dividends of 2.5 cents a share later this year even after it spins off its local phone division.
Speaking at the company’s annual shareholder meeting here, Gary Forsee, Sprint’s president and chief executive officer, said the Sprint Nextel dividend would start with the third quarter this year.
Next month, the local division is expected to complete the spin off to shareholders, forming a new stand-alone company to be called Embarq Corp. This company, which will be based in the Kansas City area, serves about 7.4 million lines in 18 states. Embarq also is expected to pay a dividend so the new Sprint dividend essentially will be doubling the dividend payments that Sprint Nextel shareholders now are receiving, Forsee said...." |
