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LITTLE ROCK, Ark. - Uniti Group Inc. (NASDAQ:UNIT), a real estate investment trust specializing in communications infrastructure with a market capitalization of $1.1 billion and an attractive dividend yield of ~13%, has announced the nomination of Harold Zeitz for election to its Board of Directors as an independent director during the 2025 annual meeting of stockholders. According to InvestingPro data, the company appears undervalued at current levels and is expected to show net income growth this year. The company’s current directors, including Chairman Francis X. "Skip" Frantz, Scott Bruce, Carmen Perez-Carlton, and President and CEO Kenny Gunderman, are also nominated for re-election.
The board expressed gratitude to Jennifer Banner, who will not seek re-election after a decade of service, acknowledging her contributions to the company.
Zeitz, the CEO of Ziply Fiber, is recognized for his 30-year career in various leadership roles across the broadband, telecom, and wireless industries. His nomination is part of Uniti’s strategy to become a national fiber powerhouse and drive long-term growth and value creation for shareholders.
"We are delighted to announce the nomination of Harold to the Uniti Board at this exciting time for our company," said Frantz. "His strategic insights and experience will be invaluable as we continue to execute our strategy."
Zeitz commented on his nomination, "I am looking forward to working with the Board and the management team to help drive Uniti’s strategic goals forward, fulfill its enormous potential, and create long-term value for Uniti’s shareholders."
Uniti owns approximately 145,000 fiber route miles and 8.8 million fiber strand miles throughout the United States, providing fiber and wireless solutions for the communications industry. The company generated revenues of $1.17 billion in the last twelve months, maintaining a robust gross profit margin of ~85%. InvestingPro analysis reveals 8 additional key insights about Uniti’s performance and valuation, available in the comprehensive Pro Research Report. The company plans to file a proxy statement with the SEC in connection with the solicitation of proxies for the Annual Meeting, which will contain important information for investors and stockholders.
This news is based on a press release statement from Uniti Group Inc. and is intended to inform shareholders and the public about the upcoming board nominations and the strategic direction of the company. Investors should note that Uniti’s next earnings report is scheduled for May 6, 2025, which could provide additional insights into the company’s growth trajectory and strategic initiatives.
In other recent news, Uniti Group Inc. announced its fourth-quarter 2024 earnings, which revealed a slight miss in both earnings per share (EPS) and revenue forecasts. The company’s EPS was reported at $0.09, just below the expected $0.10, while revenue came in at $293.32 million, slightly under the forecasted $295.12 million. Despite these misses, Uniti Group has received significant attention due to its merger with an affiliate of Windstream Holdings II, LLC. The merger, approved by over 90% of Uniti’s shareholders, is expected to close in the second half of 2025 and will see Uniti become an indirect, wholly-owned subsidiary of Windstream Parent, Inc. In addition, Raymond James recently upgraded Uniti Group’s stock rating from Outperform to Strong Buy, citing the company’s potential in the Fiber-to-the-Home market and the strategic benefits of the Windstream merger. Analyst Frank Louthan from Raymond James expressed confidence in Uniti’s long-term prospects, particularly in its fiber and leasing business. These developments highlight Uniti Group’s strategic focus and the anticipated value creation from its merger with Windstream.
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