For the first time in its history, wireless internet provider T-Mobile (TMUS) has announced that it will issue a cash dividend to its shareholders.
The company has declared that it will pay a dividend of 65 cents per share to stockholders on December 15 of this year.
This is the first dividend payment by T-Mobile since the company was founded in 2001.
The dividend comes after the board of directors approved a new shareholder return program that’s valued at a total of $19 billion U.S., share buybacks and dividend payments combined.
The company said the dividend is payable to all shareholders of record as of the close of business on December 1 of this year.
T-Mobile’s current shareholder return program runs until December 31, 2024. The company has said that it intends to pay $3 billion U.S. in dividends to stockholders in 2024.
The majority of the shareholder return program consists of more than $15 billion U.S. of stock buybacks through the end of 2024.
T-Mobile’s stock has increased 6% over the last 12 months and currently trades at $140 U.S. per share.
