TDS Stock Soars to 52-Week High, Reaching $36.53

In a remarkable display of market resilience, Telephone and Data Systems Inc (NYSE:TDS) stock has achieved a new 52-week high, with shares climbing to $36.53, representing a significant recovery from its 52-week low of $13.69. With a market capitalization of $4.15 billion and a "GOOD" Financial Health Score from InvestingPro, the company has maintained dividend payments for an impressive 51 consecutive years. This milestone underscores a period of significant growth for the company, which has seen an impressive 94.92% surge in its stock price over the past year, including a remarkable 69.73% gain in the last six months alone. Investors have shown increased confidence in TDS's strategic direction and market position, propelling the stock to levels not seen in the last twelve months. The company's robust performance and the resulting 52-week high mark a noteworthy phase in its financial journey, reflecting a strong bullish sentiment among shareholders and market watchers alike. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with 8 additional key insights available to subscribers.

In other recent news, Telephone and Data Systems (TDS) has reported several significant developments. The company's subsidiary, UScellular, has implemented a new executive incentive plan to align executive compensation with company performance. The details of this plan were filed with the Securities and Exchange Commission. TDS has also updated its bylaws to streamline the director nomination process and enhance stockholder information on proposed actions.

The company has made strides in governance, with the appointment of Napoleon B. Rutledge Jr. to its Board of Directors. Rutledge's financial expertise is expected to enhance the company's governance and oversight capabilities.

In terms of financial performance, TDS reported a 3% improvement in adjusted EBITDA for the third quarter of 2024, despite a decrease in service revenues. The company also recorded a $136 million impairment loss on millimeter wave licenses but expects substantial proceeds from the sale of spectrum licenses.

Furthermore, TDS is in the process of selling wireless operations and spectrum to T-Mobile. This transaction is projected to close by mid-2025. As part of their strategic growth initiatives, TDS is expanding its fiber network towards a target of 1.2 million marketable fiber addresses and preparing for the launch of an MVNO with a national 5G partner. These are recent developments marking a period of strategic transactions and growth for TDS.

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