CT Communications (NASDAQ:CTCI)
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CT Communications Increases Dividend 43 Percent
Increase represents second dividend boost in 12 Months
CONCORD, N.C., March 16 /PRNewswire-FirstCall/ -- CT Communications Inc.
(NASDAQ:CTCI) said today that its board of directors has declared a quarterly
dividend on its common stock of 10 cents per share, an increase of 43 percent
from the previous quarter. The dividend is payable June 15, 2005, to all
shareholders of record as of the close of business on June 1, 2005.
CT Communications officials said the dividend increase -- the second within the
past 12 months -- is made possible by the company's continuing focus on revenue
growth, controlling expenses, increasing operational efficiency and improving
cash flow.
"We're excited to provide our shareholders a greater return on their investment
in our company," says Michael Coltrane, president and chief executive officer
of CT Communications Inc. "The announcement of our second dividend increase in
12 months is a reflection of confidence that our business strategy of growing
earnings while improving operations and cash flow is yielding results."
In November 2004, CTC issued a common stock dividend of 7 cents per share, up 8
percent from the previous quarter's 6.5 cents per share.
During the past two years, CTC has aggressively grown its competitive CLEC,
Greenfield, Internet and Wireless businesses, while reducing its debt by $57.7
million. In addition, the company recently announced a $9 million investment
initiative to enhance its broadband product capabilities in its ILEC territory.
The new e-Sonic broadband product set is currently being introduced in several
of the company's serving areas.
About CT Communications Inc. (CTC)
CT Communications Inc., which is headquartered in Concord, N.C., is a growing
provider of integrated telecommunications and related services to residential
and business customers located primarily in North Carolina. CT Communications
Inc. offers a comprehensive package of telecommunications and related services,
including local and long distance telephone service, Internet and data services
and digital wireless services.
DATASOURCE: CT Communications Inc.
CONTACT: Nora Carr of Luquire George Andrews, +1-704-552-6565, or Cell,
+1-704-589-0784, or
Web site: http://www.ctc.net/