Array Completes $1.0B Verizon Spectrum Sale; Declares $11.00 Special Dividend

Array Digital Infrastructure, Inc. announced the successful closing of the previously announced agreement to sell select spectrum assets to Verizon Communications Inc. for $1.0 billion in cash. Additionally, the company completed other spectrum sales to T-Mobile totaling $168 million in May. Following these transactions and considering current cash on hand, Array's Board of Directors declared a special cash dividend of $11.00 per share, payable on June 25, 2026, to shareholders of record as of June 11, 2026. The company does not anticipate paying any additional dividends in 2026 and noted this special dividend is unrelated to the ongoing evaluation of a non-binding acquisition proposal from Telephone and Data Systems, Inc.