American Tower Enjoys ‘Double-Digit Revenue Growth,’ Ups Dividend 30%


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american towerThere is joy in Beantown for the folks at American Tower Corp. The Boston-based international tower conglomerate on Friday reported total revenue soared more than 22 percent to $1.28 billion in its fourth quarter ending December 31, 2015, and that property revenue increased 21.5 percent to $1.251 billion. Per share earnings were $1.27 beating Barclay’s estimate of $1.21 but off from the third quarter’s $1.31 per share earnings.

“We once again delivered double digit growth in revenue, Adjusted EBITDA and AFFO per share while increasing our common stock dividend by nearly 30%,” said American Tower’s Chief Executive Officer Jim Taiclet with the release of the results. “At the same time, we strengthened our positioning across our major markets, including in our home U.S. market through the Verizon transaction, in Brazil through our TIM transaction, in Nigeria where we launched operations in connection with our acquisition of sites from Airtel and most recently in India through our agreement to acquire a majority interest in Viom.”

Looking forward into this year, Taiclet said the company expects to “extend our proven track record of generating double digit growth across our key metrics as we drive additional organic revenue on our existing assets and selectively seek complementary new investments, all while maintaining the strength of our balance sheet.”

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