LITTLE ROCK, Ark. - Windstream Corporation's (NYSE: WIN) board of directors today declared its first quarterly dividend on the company's common stock.
The 20.4 cent dividend - which is prorated from July 17, 2006, the effective date of Windstream's spinoff from Alltel and merger with VALOR Communications Group, Inc., through Sept. 30, 2006 - is payable Oct. 16, 2006, to stockholders of record as of Sept. 29, 2006. The indicated quarterly dividend rate implied by the prorated dividend is 25 cents per share.
As previously announced, VALOR Communications Group, Inc., declared on July 7, 2006, a prorated dividend of 7 cents per share of common stock for the third quarter of 2006 for shareholders of record on July 14, 2006. The prorated dividend was paid on July 28, 2006.
In addition, Alltel's board of directors announced July 20, 2006, a one-time dividend of 4.8 cents on Alltel's common stock in order to maintain the aggregate annual pre-wireline separation dividend rate.
Windstream Corporation (NYSE: WIN) provides voice, broadband and entertainment services to customers in 16 states. The company has approximately 3.4 million access lines and about $3.4 billion in annual revenues. For more information, visit www.windstream.com.
Investor Relations Contact:
Mary Michaels, 501-748-7578