TDS subsidiary Array sells spectrum to AT&T for $1.018B; declares $10.25/shr special dividend

TELEPHONE & DATA SYSTEMS INC /DE/

Array (f/k/a US Cellular) completed sale of select spectrum assets to AT&T on Jan 13, 2026 for $1.018B cash.
Previously deferred $232M for 700 MHz licenses also closed at closing; no deferred amount remains.
Array Board declared special dividend of $10.25 per share on Common and Series A Common stock.
Record date Jan 23, 2026; payable Feb 2, 2026. TDS holds 70.8M combined shares.
TDS is the majority stockholder of Array and will receive a significant portion of the dividend.

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