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In a recent SEC filing, Uniti Group Inc., a Real Estate Investment Trust (REIT) with a market capitalization of $1.08 billion and a notable dividend yield of ~14%, announced the results of its annual meeting of stockholders. According to InvestingPro analysis, the company currently trades below its Fair Value. The virtual event was held on May 29, 2025.
During the meeting, shareholders voted on three key proposals, which were detailed in the company’s definitive proxy statement filed on April 29, 2025. The first item on the agenda was the election of directors. All five director nominees mentioned in the proxy statement were elected to the company’s Board of Directors. The votes were cast as follows: Scott G. Bruce received 167,444,412 votes for and 7,102,210 against, with 508,144 abstentions and 34,190,046 broker non-votes. The other directors had similar voting patterns, with the majority receiving overwhelming support.
The second proposal was an advisory vote to approve executive compensation, which passed with 165,637,836 votes for, 8,677,064 against, 739,866 abstained, and 34,190,046 broker non-votes. This non-binding resolution indicated shareholders’ approval of the compensation for the company’s named executive officers.
Lastly, the appointment of PricewaterhouseCoopers LLP as the company’s independent registered public accountant for 2025 was ratified with 207,453,374 votes for, 1,035,708 against, and 755,730 abstained.
The outcomes of these votes are part of the official records filed with the SEC. The annual meeting is a routine procedure for Uniti Group Inc., allowing shareholders to make decisions on important governance matters. The company, headquartered in Little Rock, Arkansas, operates under the ticker (NASDAQ:UNIT) and is incorporated in the state of Maryland. Trading at $4.41 per share, the stock has experienced a challenging period with a 25% decline over the past six months. InvestingPro subscribers have access to 13 additional key insights about Uniti Group, including detailed analysis of its financial health score and comprehensive valuation metrics in the Pro Research Report.
In other recent news, Uniti Group reported first-quarter earnings that did not meet analyst expectations, with adjusted earnings per share at $0.05, falling short of the projected $0.09. Revenue for the quarter was $293.9 million, slightly below the anticipated $296.56 million, although it showed a 4% year-over-year increase in core recurring strategic fiber revenue. Despite the earnings miss, Uniti highlighted a 40% increase in consolidated bookings and a decline in the capital intensity of its fiber business. The company also updated its outlook for 2025, expecting revenue between $1.196 billion and $1.216 billion and adjusted EBITDA of $966 million to $986 million. In merger news, shareholders approved Uniti’s merger with Windstream, anticipated to close in the third quarter of this year. Citi analysts reinstated a Neutral rating for Uniti with a price target of $5.30, noting the merger’s potential to enhance investment capabilities and strategic flexibility. However, Citi’s Michael Rollins pointed out that Uniti is not expected to generate free cash flow until 2030 due to Windstream’s ongoing challenges. The merger is seen as a strategic move to strengthen Uniti’s position in the market.
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