AD News & Events

Array Digital Infrastructure (AD) announced the successful closing of the previously announced agreement with Verizon (VZ) to sell a portion of the company's retained spectrum licenses for total consideration of $1B. Additionally, certain spectrum sales to T-Mobile (TMUS) totaling $168M, primarily related to 700MHz and 600MHz, were completed in May. These transactions further the objective announced on May 28, 2024, to opportunistically monetize remaining spectrum following the sale of the T-Mobile wireless operation which closed on August 1, 2025. Considering the closing of the Verizon and other transactions alongside current cash on hand, the Array Board of Directors has declared a special cash dividend of $11.00 per Common Share and Series A Common Share. The special dividend is payable on June 25 to shareholders of record on June 11. While future dividend declarations are subject to the Board's discretion, the company at this time does not anticipate that any additional dividends will be paid during 2026.

The FCC released an Order approving the applications of Verizon Wireless (VZ) and United States Cellular Corporation (AD) for consent to assign certain spectrum licenses to Verizon Wireless."In this Memorandum Opinion and Order, we grant the applications filed by Cellco Partnership, doing business as Verizon Wireless (Verizon Wireless), and Array Digital Infrastructure Inc (Array) (formerly known as United States Cellular Corporation or UScellular) (Verizon Wireless and Array together, the Applicants), seeking Commission consent to assign several cellular, AWS-1, AWS-3, and PCS licenses from subsidiaries of Array to Verizon Wireless," the FCC order reads. "We find that granting these applications serves the public interest. The proposed spectrum assignment does not trigger the Commission's total spectrum screen, and while it triggers enhanced factor review in 98 local markets, we find, based on our careful evaluation, that the likelihood of competitive harm is low. We also find that the transaction would result in certain public interest benefits, including enhancing Verizon Wireless's network coverage, capacity, and performance, resulting in a stronger ability to meet increasing customer demand and provide a better customer experience. Approval of this transaction, combined with upcoming mid-band auctions and recent approval of other transactions, continues this agency's efforts to make additional spectrum available to facilities-based providers with the incentive and ability to build networks that benefit American consumers."