Frontier Communications (FTR) Raises Dividend by 5%

Frontier Communications (NASDAQ: FTR)Frontier Communications Corporation (NASDAQ: FTR) announced today that it Board of Directors has approved a 5% increase in the planned quarterly cash dividend rate, commencing with the dividend for the first quarter of 2015. The quarterly dividend will be increased from $0.10 per share to 10.5¢ per share. On an annual basis, the dividend will be increased from $0.40 to $0.42 per share. Each future quarterly dividend must be declared by the Company’s Board of Directors prior to payment.

“Today’s announcement reflects the Board’s confidence in Frontier’s business and financial strength and our solid execution performance in integrating the Connecticut acquisition,” said Maggie Wilderotter, Chairman and Chief Executive Officer. “Increasing the dividend rewards our shareholders, and we have a sustainable payout ratio to support this new rate in 2015.”

The Board of Directors intends to declare the first quarter 2015 dividend in February 2015, at which time the Company will announce the record and payment dates for this dividend. It is expected that the first increased dividend will be paid in late March 2015.

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