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Array completes sale of select spectrum assets to AT&T for $1.018 billion

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Board declares special dividend of $10.25 per share CHICAGO, Jan. 13, 2026 /PRNewswire/ -- Array Digital Infrastructure, Inc.SM (NYSE:AD) (ArraySM) today announced the successful closing of the previously announced

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AI Summary

Array Digital Infrastructure completed a $1.018 billion sale to AT&T. Special cash dividend of $10.25 per share declared for shareholders. Dividend payable on February 2, 2026, to shareholders of record on January 23. Sale monetizes retained spectrum not included in previous T-Mobile deal. CEO emphasizes value returned to shareholders through this dividend.

Sentiment Rationale

The declaration of a substantial special dividend usually boosts investor confidence and increases stock attractiveness. Historically, special dividends often lead to positive stock price appreciation, especially for companies demonstrating strong asset monetization.

Trading Thesis

The impact of the special dividend is likely to be felt in the short term as it incentivizes immediate investment and could spike demand before the record date. Similar past scenarios have shown that dividends can elevate stock prices leading up to payment dates.

Market-Moving

  • Array Digital Infrastructure completed a $1.018 billion sale to AT&T.
  • Special cash dividend of $10.25 per share declared for shareholders.
  • Dividend payable on February 2, 2026, to shareholders of record on January 23.

Key Facts

  • Array Digital Infrastructure completed a $1.018 billion sale to AT&T.
  • Special cash dividend of $10.25 per share declared for shareholders.
  • Dividend payable on February 2, 2026, to shareholders of record on January 23.
  • Sale monetizes retained spectrum not included in previous T-Mobile deal.
  • CEO emphasizes value returned to shareholders through this dividend.

Companies Mentioned

  • T (T)

Corporate Developments

The announcement represents a significant financial maneuver that directly impacts shareholder value, enhancing company visibility and perceived stability. Given the size of the dividend and its implications for future cash management and stakeholder engagement, it strongly influences AD's market position.

Board declares special dividend of $10.25 per share

CHICAGO, Jan. 13, 2026 /PRNewswire/ -- Array Digital Infrastructure, Inc.SM (NYSE:AD) (ArraySM) today announced the successful closing of the previously announced agreement with AT&T (NYSE:T) to sell a portion of the Company's retained spectrum licenses for total consideration of $1.018 billion. 

The transaction furthers the objective announced on May 28, 2024, to opportunistically monetize the spectrum that was not included in the sale to T-Mobile that closed on August 1, 2025.

Following the close of the AT&T transaction, the Array Board of Directors has declared a special cash dividend of $10.25 per Common Share and Series A Common Share.  The special dividend is payable on February 2, 2026, to shareholders of record on January 23, 2026.

"We are pleased with the significant value realized in this sale," said Anthony Carlson, President and CEO.  "And we are continuing to return value to our shareholders in the form of a special dividend." 

Note

Array currently expects that when 1099-DIVs are issued for 2026, this special dividend will be largely designated as an ordinary and qualified dividend, subject to the shareholder's holding period requirements.

Advisors

Citigroup Global Markets Inc. served as lead financial advisor and Centerview Partners LLC served as financial advisor to Telephone and Data Systems, Inc. (TDS) in connection with the AT&T transaction.  TD Securities (USA) LLC and Wells Fargo also served as financial advisors to TDS.  Wilkinson Barker Knauer, LLP served as lead transactional and FCC regulatory counsel to both TDS and Array.  In addition, Clifford Chance LLP served as regulatory advisor to both TDS and Array and Sidley Austin LLP served as legal advisor to TDS.  PJT Partners LP served as financial advisor and Cravath, Swaine & Moore LLP served as legal advisor to the independent directors of Array.

About ArraySM

Array Digital Infrastructure, Inc. is a leading owner and operator of shared wireless communications infrastructure in the United States. With over 4,400 cell towers in locations from coast to coast, Array enables the deployment of 5G and other wireless technologies throughout the country. Headquartered in Chicago, Array is approximately 82% owned by TDS. 

For more information about Array, visit: investors.arrayinc.com

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements.  The forward-looking statements include the statement regarding Array's expectation regarding the designation of the special dividend on 1099-DIV.  This statement relies on the company's current assumptions and involves uncertainties that could cause a different result.  The ultimate designation of the special dividend depends on several factors including Array's 2026 taxable income and the amount and timing of any additional special dividends issued by Array in 2026.

Cision View original content:https://www.prnewswire.com/news-releases/array-completes-sale-of-select-spectrum-assets-to-att-for-1-018-billion-302660307.html

SOURCE Array Digital Infrastructure, Inc.

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