Array Completes Select Spectrum Assets Sale To Verizon

Array Digital Infrastructure (NYSE: AD) last week announced the successful closing of the previously announced agreement with Verizon (NYSE: VZ) to sell a portion of Array’s retained spectrum licenses for a total consideration of $1.0 billion. Additionally, certain spectrum sales to T-Mobile (NASDAQ: TMUS) totaling $168 million, primarily related to 600 MHz and 700 MHz, were completed in May.

These transactions further the company’s objective, announced on May 28, 2024, to opportunistically monetize remaining spectrum following the sale of the USCellular wireless operation to T-Mobile which closed on August 1, 2025, Inside Towers reported. 

With the closing of the Verizon and other transactions along with current cash on hand, the Array Board of Directors declared a special cash dividend of $11.00 per Common Share and Series A Common Share. The special dividend is payable on June 25, 2026, to shareholders of record on June 11, 2026. 

“We have made significant progress in our spectrum monetization efforts and are pleased with the value realized in this sale,” comments Anthony Carlson, Array President and CEO. “As we have done with prior asset sale proceeds, we are returning value to our shareholders in the form of a special dividend.”

By John Celentano, Inside Towers Business Editor