U.S. Markets close in 4 hrs 58 mins

U.S. Cellular declares $5.75 per share special dividend

The board of United States Cellular (USM) has declared a special cash dividend of $5.75 per common share for an aggregate amount of approximately $481M. Payment will be made on June 25 to shareholders of record as of June 11. The company's previously announced transaction to sell its Chicago, St. Louis, central Illinois and three other markets to Sprint (S) has closed and the company has received $480M.