RTTNews | Jul 2, 2021 10:15AM EDT

10:15 Friday, July 2, 2021 (RTTNews.com) - Shares of Shenandoah Telecommunications Co. (SHEN) are currently trading at $54.61, up $5.42 or 11.02%, with trading volume rising over 334K versus an average volume of 164K shares. The stock has been trading on the range of $38.77 - $56.77 for the past one year.

The company, on Friday, declared a special dividend of $18.75 per share on the issued and outstanding shares of Shentel's common stock. The special dividend is payable on August 2, 2021 to shareholders of record as of the close of business on July 13, 2021. In accordance with NASDAQ rules, the ex-dividend date will be August 3, 2021, the first business day after the payment date.

As recently as on July 1, the company announced the closing of the previously announced sale of its Wireless assets and operations to T-Mobile USA Inc. The company received cash proceeds of $1.94 billion, inclusive of the about $60 million settlement of the waived management fees by Sprint Corp., an indirect subsidiary of T-Mobile, and net of certain transaction expenses.

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