22 unchanged sentences
Under the Company’s credit agreement, the Company is restricted in its ability to pay dividends in the future.
−Removed: So long as no Default or Event of Default, as defined in the credit agreement, exists before or will result after giving effect to such dividends, distributions or redemptions on a pro forma basis, the Company may declare or pay a lawful dividend or other distribution of assets, or retire, redeem, purchase or otherwise acquire capital stock in an aggregate amount which when added to any such dividends, distributions or redemptions of capital stock or other equity interest made, declared or paid from January 1, 2016 to the date of declaration, does not exceed $25 million plus 60% of the Company’s consolidated net income (excluding non-cash extraordinary items such as write-downs or write-ups of assets, other than current assets).
+Added: So long as no Default or Event of Default, as defined in the credit agreement, the Company may make, declare and pay lawful cash dividends or distributions to its shareholders or redeem capital stock in an aggregate amount not to exceed, when the Company’s Total Net Leverage Ratio (as defined in the credit agreement) is greater than 4.00:1.00 on a pro forma basis, an amount equal to the greater of 6.0% of the net cash proceeds from any public equity issuance of the Company’s equity interests or 4.0% of the estimated fair market value of the Company’s equity interests or when the Company’s Total Net Leverage (as defined in the credit agreement) is less than or equal to 4.00:1.00 on a pro forma basis, an unlimited amount;
+Added: provided, however, that the amount of any dividend or distribution that is not paid in cash but is reinvested in equity interests of the Company shall be excluded from this calculation and redemptions of equity interests of the Company surrendered by employees and directors to cover withholding taxes shall be excluded from this calculation.
The table below sets forth the cash dividends per share of our common stock that our board of directors declared during the following years:
2 unchanged sentences
Cash Dividend $ 0.26 $ 0.27 $ 0.29 $ 0.34 $ 18.82
−Removed: The Company expects to pay the Special Dividend in the second quarter 2021 after the close of the Shentel Wireless transaction, subject to the approval of Shentel’s Board of Directors.
+Added: Cash dividends in 2021 include a special dividend of $18.75 per share declared in the third quarter of 2021 (the "Special Dividend") following the sale of our Wireless operations and assets.
Dividend Reinvestment Plan
2 unchanged sentences
In conjunction with the vesting of shares or exercise of stock options, the grantees may surrender awards necessary to cover the statutory tax withholding requirements and any amounts required to cover stock option strike prices associated with the transaction.
−Removed: Based on the current number of shares enrolled in the DRIP, the Company expects that 1.5 million new shares of common stock will be issued to DRIP participants during the first half of 2021 in connection with the Special Dividend.
Purchases of Equity Securities by the Issuer or Affiliated Purchasers
−Removed: The following table provides information about shares surrendered during the fourth quarter ended December 31, 2020, to settle employee tax withholding related to the vesting of stock awards and through the share repurchase program.
−Removed: ($ in thousands, except per share amounts) Number of Shares
−Removed: Surrendered Average Price
−Removed: Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1) Approximate Dollar Value that May Yet be Purchased under the Plans or Programs
−Removed: October 1 to October 31 — $ — $ — $ —
−Removed: November 1 to November 30 758 $ 46.88 — $ —
−Removed: December 1 to December 31 — — — $ —
−Removed: SELECTED FINANCIAL DATA
−Removed: The following table sets forth selected consolidated financial data for the years presented and at the dates indicated below.
−Removed: Our historical results are not necessarily indicative of our results in any future periods.
−Removed: The summary of our consolidated financial data set forth below should be read together with our consolidated financial statements and related notes, as well as the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” included elsewhere in this Annual Report on Form 10-K.
−Removed: All periods reflect the operating results, cash flows, and financial position, related to our Wireless operations as discontinued operations.
−Removed: Additionally, those assets and liabilities which are expected to transfer in the sale of our discontinued Wireless operations are presented as held for sale in our Consolidated Balance Sheets.
−Removed: Years Ended December 31,
−Removed: (in thousands, except share and per share amounts) 2020 2019 2018
−Removed: Revenue $ 220,775 $ 206,862 $ 192,683
−Removed: Operating expenses 221,922 207,581 195,652
−Removed: Operating loss (1,147) (719) (2,969)
−Removed: Income tax (benefit) expense (586) 173 (1,343)
−Removed: Income from continuing operations 2,626 2,388 2,077
−Removed: Income from discontinued operations, net of tax 124,097 53,568 44,518
−Removed: Net income $ 126,723 $ 55,956 $ 46,595
−Removed: Shareholder Information:
−Removed: Shares outstanding 49,867,676 49,670,603 49,630,119
−Removed: Net income per share, basic and diluted:
−Removed: Basic - Income from continuing operations $ 0.05 $ 0.05 $ 0.04
−Removed: Basic - Income from discontinued operations, net of tax $ 2.49 $ 1.07 $ 0.90
−Removed: Basic net income per share $ 2.54 $ 1.12 $ 0.94
−Removed: Diluted - Income from continuing operations $ 0.05 $ 0.05 $ 0.04
−Removed: Diluted - Income from discontinued operations, net of tax $ 2.48 $ 1.07 $ 0.89
−Removed: Diluted net income per share $ 2.53 $ 1.12 $ 0.93
−Removed: Cash dividends per share $ 0.34 $ 0.29 $ 0.27
−Removed: Years Ended December 31,
−Removed: 2020 2019 2018
−Removed: Cash and cash equivalents $ 195,397 $ 101,651 $ 85,086
−Removed: Assets held for sale $ 1,133,294 $ 1,196,575 $ 910,596
−Removed: Total assets $ 2,031,707 $ 1,898,902 $ 1,487,488
−Removed: Liabilities held for sale $ 452,202 $ 422,335 $ 46,487
−Removed: Total liabilities $ 1,449,313 $ 1,426,474 $ 1,043,254
−Removed: Capital expenditures $ 120,450 $ 67,048 $ 56,631
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.