ATN International expands stock buyback to $25M, boosts dividend by 14%

ATN International announced that the company’s Board of Directors has authorized the expansion of the share repurchase program to $25M of common stock and approved a quarterly dividend increase of 14% to 24c from 21c per share. The quarterly dividend will be payable on January 5, 2024, on all common shares outstanding to stockholders of record as of December 31, 2023. “As we approach 2024, we are moving into the final and smallest phase of ATN’s three-year infrastructure expansion plan, positioning us to increase direct capital returns to shareholders,” said Michael Prior, ATN’s Chairman and Chief Executive Officer. “The Board’s decision to expand the share repurchase plan and increase our quarterly dividend reflects their continued confidence in our ability to execute our strategic plan that has produced strong and reliable operating cash flows, sustainable growth across our markets, and a healthy balance sheet. Going forward, we remain committed to a balanced capital allocation strategy. This includes seeking the highest total return opportunities for shareholders across acquisitions, internal investments, share repurchases and dividends, while remaining prudent in how we manage our net debt position.”