Business Headlines | 3 years ago

Frontier Communications Corp (NASDAQ:FTR) To Update Infrastructure

Frontier Communications Corp (NASDAQ:FTR) has been fluctuating in the stock market, despite repeatedly appearing in Nasdaq stock news, for the last two weeks. The stock’s trend indicates a mixed investor sentiment, behind FTR. One of the reasons for this trend is that the company is yet to file its financial report for the 4Q2016, whereas most of its competitors have already done so. FTR is expected to release its financial report on February 27, 2017.

Most recently, the company announced that it has selected Actelis Networks, for extending its 10Mbps-20Mbps CAF-II service delivery. This would be done with the help of a new ADSL Broadband Amplifier, by Actelis, the ABA 3.0. The company pointed out that this is the second generation of the technology and would boost FTR’s coverage and bandwidth, in a cost effective manner, at heights exceeding 20,000 ft.

Although the Nasdaq stock news spiked investor interest in FTR, with the stock trading at a significantly higher than average trade volume, it failed to help FTR surge in the market. Mark Davis, the senior Network Architect Engineer, pointed out that Frontier is already using the ABA 2.0, to help maintain its service quality, but with the second generation technology the company would be able to fulfill the FCCs CAF-II requirement and offer 10/1Mbps to harder-to-reach customers. He also revealed that alternative methods of fulfilling this requirement tend to require a higher cap-ex and op-ex.

In addition to this, Frontier’s board of directors has declared a quarterly cash dividend, for the company’s 11.125% mandatory convertible preferred stock, Series A. The dividend would be payable on March 31, 2017, to holders on record, as of March 15, 2017, with each shareholder receiving $2.78125 per share. Moreover, shareholders of FTR’s common stock, would receive a dividend of $0.105 per share, on the same day.

Frontier Communications Corp (NASDAQ:FTR) closed at a share price of $3.29, at the end of the February 17 trading session, the same as the session before.

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