Millicom Announces Partial Closing Of Infrastructure Deal With SBA Communications; Intends To Declare Special Dividend Of $2.50/Shr Representing Around 45% Of The Proceeds

Author: Benzinga Newsdesk | June 13, 2025 08:10am

Millicom International Cellular S.A. (NASDAQ:TIGO) today announced the partial closing of its previously disclosed transaction with SBA Communications Corporation (NASDAQ:SBAC), through the sale of LATI International S.A., the Luxembourg-based holding company for Millicom's mobile passive infrastructure assets in Central America. To date, completed closings have generated approximately $600 million in proceeds, with the remainder of the approximately $975 million transaction expected to close in Q3 2025.

In conjunction with this strategic milestone, Millicom's Board of Directors intends, following the publication of Millicom's Q2 results, to approve the distribution of a special interim cash dividend of $2.50 per share, representing approximately 45% of the net proceeds of the transaction. The dividend will be distributed in two equal installments of $1.25 per share, on or around October 15, 2025 and April 15, 2026.

This special dividend is incremental to Millicom's previously announced annual dividend of $3.00 per share, further reflecting the Company's ongoing commitment to shareholder remuneration.

This transaction highlights Millicom's strategic commitment to monetizing infrastructure assets, strengthening financial flexibility, and generating sustainable shareholder returns—while reaffirming its disciplined approach to capital structure by maintaining its leverage target range of 2.0-2.5x.

Posted In: SBAC TIGO