Iridium initiates quarterly dividend of $0.13 per share, first cash dividend

Iridium Communications Inc.

First-ever cash dividend declared at $0.13 per share; payable March 30, 2023 to shareholders of record March 15, 2023.
Dividend program joins existing $600 million share repurchase programs; ~$413M repurchased through Q3 2022.
Company expects to maintain target leverage of 2.5x–3.5x operational EBITDA by end of 2023.
CEO Matt Desch cites record subscriber and free cash flow growth as basis for shareholder return.

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