CT Communications Increases Dividend
November 01 2004 - 6:00PM
PR Newswire (US)
CT Communications Increases Dividend CONCORD, N.C., Nov. 1
/PRNewswire-FirstCall/ -- CT Communications, Inc. (NASDAQ:CTCI)
announced today that its board of directors approved a common stock
dividend of $0.07 per share, up 8 percent from the previous
quarter's $0.065 per share. The new common stock dividend is
payable on December 15, 2004, to all shareholders of record as of
the close of business on December 1, 2004. CT Communications
officials credit the increase in the dividend to the Company's
initiatives to diversify revenue streams and improve operating
margins and cash flow. During the past two years, CTC has
aggressively grown its CLEC, Greenfield, Internet and Wireless
businesses while reducing its debt by $57.7 million. In addition,
the Company recently announced a $9 million investment initiative
to enhance its broadband product capabilities in its ILEC
territory. "Today's announcement reflects our confidence in the
Company's ability to consistently grow earnings while maintaining a
strong financial position," said Michael R. Coltrane, President and
Chief Executive Officer of CT Communications, Inc. Increasing
efficiency across the board has also helped CT Communications
increase its operating cash flow, according to Coltrane. "Our focus
the past two years has really paid off, and we're pleased and proud
to be able to share the benefits of increased earnings with our
shareholders," said Coltrane. About CT Communications, Inc. (CTC)
CT Communications, Inc., which is headquartered in Concord, N.C.,
is a growing provider of integrated telecommunications and related
services to residential and business customers located primarily in
North Carolina. CT Communications, Inc. offers a comprehensive
package of telecommunications and related services, including local
and long distance telephone service, Internet and data services and
digital wireless services. DATASOURCE: CT Communications, Inc.
CONTACT: Nora Carr of Luquire George Andrews, +1-704-552-6565, or
cell, +1-704-589-0784, or Web site: http://www.ctc.net/
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