United States Cellular Corporation (USM) or US Cell, is a cell phone carrier operating in the Midwest and other areas shown below. It is often overshadowed by the national wireless carriers, and is not large enough to be considered a major player with national scope, nor small enough to be considered a regional play.
USM recently sold approximately 10% of its subscriber base to Sprint for $480 million. The has just closed, and the company is paying the proceeds to its shareholders as a special dividend. That dividend is the cause of the drop in the stock from $40.41 the day before the stock trades ex-dividend to $33.48 on the day after. Since the dividend...
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