Frontier Communications Q1 Net Up 80%, Dividend Declared
Frontier Communications has announced its latest dividend payout as it reports an 80% boost in net income in its just-released quarterly results.
For the quarter, revenue was $1.21 billion, down from the $1.27 billion in the same period the previous year. Attributable net income, on the other hand, grew considerably to more than $48 million ($0.05 per share), beating Q1 2012's $27 million ($0.03).
Analysts had been expecting revenue of $1.22 billion and EPS of $0.06.
Frontier Communications also maintained its existing guidance. For full-year 2013, the company believes it will see capital expenditures of $625 million to $675 million, and free cash flow of $825 million to $925 million.
Lastly, the company declared a quarterly dividend. It will hand out $0.10 per share of its common stock on June 28 to shareholders of record as of June 7. This amount matches the company's previous five quarterly distributions.
The article Frontier Communications Q1 Net Up 80%, Dividend Declared originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Frontier Communications. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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