American Tower's (AMT) recent dividend hike portrays the company's operational strength and commitment to rewarding its shareholders handsomely.
BOSTON, September 20, 2023--American Tower Corporation (NYSE: AMT) today announced that its board of directors has declared its quarterly cash distribution of $1.62 per share on shares of the Company’s common stock. The distribution is payable on October 27, 2023 to the stockholders of record at the close of business on October 11, 2023.
Along with rivals American Tower (NYSE: AMT) and Crown Castle (NYSE: CCI), it's one of the pioneers in the cell tower business, and it, too, is investing in its own mix of traditional cell towers, data centers, distributed antenna systems for buildings and rooftops, fiber, and the other apparatus of the 5G rollout. All three of these tower operators went public in the late 90s, and SBAC's normalized total return, in fact, has handily outpaced American Tower and Crown Castle so far this century, as the chart below shows.