Boston, MA 05/13/2014 (wallstreetpr) – Windstream Holdings, Inc. (NASDAQ:WIN) has confirmed the financial estimates for this year. The total revenue for this financial year is likely to be $5.896 billion. This is a dip from the revenue reported last year which stood at $5.988 billion. The company has declared a dividend for the first quarter. Dividend has been announced at 25 cents a share on the common stock of the company. The dividend is due for payment to shareholders on July 15.
Key developments
With effect from August 30 last year, as a result of the agreement over merger among Windstream Holdings, Inc., WIN Merger Sub, Inc. and Windstream Corporation, Windstream Corporation has made a new organizational structure of holding company. As per the new company structure, Windstream Corporation became a 100% owned arm of Windstream Holdings, Inc, thereby making Windstream Holdings Inc. the issuer successor of Windstream Corporation.
Windstream Holdings, Inc. (NASDAQ:WIN) is trimming down its manpower in a bid to increase productivity and operational efficiency. Nearly 400 positions have already been eliminated till March this year. Roughly 175 of these were removed through a voluntary severance scheme. The company now has roughly 13,000 staff members.
New projects
Windstream Holdings, Inc. (NASDAQ:WIN) has been given a 3 year term contract by the Defence department of the United States of America. The deal has been inked for over $3 million and required Windstream to provide fiber networks of superior and upgraded quality to two military bases of the U.S. located at Red river and Fort knox. This deal is considered to be very prestigious of the company since the contract has been awarded by a government agency that is into very critical operations.
The Veteran Affairs department of the U.S. Government has given a contract to Windstream Holdings, Inc. (NASDAQ:WIN) to supply Internet, data and voice services in 11 states of the north east part of the country. The base agreed upon amount for this contract is $12 million. However, it can extend to an upward ceiling of $20 million over the next five years.
