SBA Communications Q4 net income $178.8M, EPS $1.61; dividend up 13% to $1.11/quarter

SBA COMMUNICATIONS CORP

2024-FY EPS reported $6.94 revenue$2,679,634,000

Net income $178.8M ($1.61 diluted EPS) vs $109.5M ($1.01) in Q4 2023; AFFO per share $3.47.
Site leasing revenue $646.3M (+1.6% reported, +4.6% ex-FX); site development revenue $47.4M (+21.5%).
Quarterly dividend increased ~13% to $1.11/share, payable March 27, 2025; annual dividend ~35% of AFFO guidance.
Net Debt to Annualized Adjusted EBITDA leverage at 6.1x, lowest in company history; no 2025 debt maturities.
Exited Philippines post-year-end; entered agreement to exit Colombia to focus on key markets.

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