United States Cellular (USM) announced that it expects its Board of Directors to approve a special cash dividend in the aggregate range amount of $1.95B-$2.075B following the closing of the sale of the company’s wireless operations and select spectrum assets to T-Mobile (TMUS). The expected dividend is in the range of $22.50 – $23.75 per Common Share and Series A Common Share. The board is expected to set a record and payment date at the time of declaration. Telephone and Data Systems (TDS), which is expected to own approximately 81% of the equity of UScellular as of the closing of the T-Mobile transaction, will receive its pro-rata share of the special dividend.
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