American Tower Corporation Announces Election of Neville R. Ray to Board of Directors and Declares Quarterly Distribution
14 Mars 2024 - 9:30PM
Business Wire
American Tower Corporation (NYSE: AMT) announced that its Board
of Directors (the “Board”) has elected Neville R. Ray as a
director.
Mr. Ray most recently served as T-Mobile’s President of
Technology until 2023. Mr. Ray joined T-Mobile (then VoiceStream)
in April 2000, and from December 2010 to November 2019, served as
its Chief Technology Officer. Prior to that, Mr. Ray served as
Network Vice President for Pacific Bell Mobile Services. Mr. Ray
currently serves on the board of directors, compensation committee
and environmental, social and governance committee of Ziff Davis, a
vertically focused digital media and internet company. He also
serves on the U.S. President’s National Security Telecommunications
Advisory Committee (NSTAC). Mr. Ray has served as Chairperson of
the Board of Governors of 5G Americas as well as the Vice Chairman
of the Cellular Telecommunications Industry Association (CTIA). In
addition, he has served as a member of the National
Telecommunications and Information Administration’s Commerce
Spectrum Management Advisory Committee (CSMAC) and the Federal
Communications Commission’s Communications Security, Reliability
and Interoperability Council (CSRIC).
“We are very excited to have Neville join our Board of
Directors,” said Steve Vondran, President and Chief Executive
Officer of American Tower. “Neville’s more than 30 years of
experience building and operating wireless networks in the U.S. and
around the world, along with his knowledge of American Tower and
the competitive ecosystem, provides a wealth of relevant experience
to American Tower. With his extensive and relevant background,
which includes deep operational and technical expertise, we believe
that Neville will make a fantastic contribution to our Board as we
execute on our core principles, and drive increasing shareholder
returns, strong, sustainable growth and a unique value proposition
for all our stakeholders.”
In addition, the Board declared a quarterly cash distribution of
$1.62 per share on shares of the Company’s common stock. The
distribution is payable on April 26, 2024 to the stockholders of
record at the close of business on April 12, 2024. As communicated
on the Company’s fourth quarter 2023 earnings conference call, the
distribution of $1.62 per share represents a step down compared to
the fourth quarter 2023 dividend of $1.70 per share and the Company
expects to maintain an annual dividend payout in 2024 that is
relatively flat compared to that of 2023, subject to Board
approval. Additionally, the Company anticipates paying out its
annual dividend through a flat quarterly dividend per share cadence
in 2024, also subject to Board approval.
About American Tower
American Tower, one of the largest global REITs, is a leading
independent owner, operator and developer of multitenant
communications real estate with a portfolio of over 224,000
communications sites and a highly interconnected footprint of U.S.
data center facilities. For more information about American Tower,
please visit the “Earnings Materials” and “Investor Presentations”
sections of our investor relations hub at
www.americantower.com.
Cautionary Language Regarding Forward-Looking
Statements
This press release contains “forward-looking statements”
concerning the Company’s goals, beliefs, expectations, strategies,
objectives, plans, future operating results and underlying
assumptions and other statements that are not necessarily based on
historical facts. Actual results may differ materially from those
indicated in the Company’s forward-looking statements as a result
of various factors, including those factors set forth under the
caption “Risk Factors” in Item 1A of its most recent annual report
on Form 10-K, and other risks described in documents the Company
subsequently files from time to time with the Securities and
Exchange Commission. The Company undertakes no obligation to update
the information contained in this press release to reflect
subsequently occurring events or circumstances.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240314197939/en/
ATC Contact: Adam Smith Senior Vice President, Investor
Relations Telephone: (617) 375-7500
American Tower (NYSE:AMT)
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