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Stock impact report

Lumen Technologies, Inc. (LUMN) RBC Capital Markets Global Technology, Internet, Media & Telecom Conference [Seeking Alpha]

Lumen Technologies, Inc. (LUMN) 
Company Research Source: Seeking Alpha
Lumen Technologies, Inc. (NYSE:LUMNCompany ParticipantsChristopher Stansbury - Executive Vice President and Chief Financial OfficerConference Call ParticipantsBora Lee - RBC Capital A - Christopher StansburyThanks. It's good to be here.Question-and-Answer SessionQ - Bora LeeAlright. Well, hopefully, that's working. So before recently decided to eliminate the dividend, can you talk about how it came to the decision to eliminate versus reduce the dividend? And why now?Sure. So the Board, over a year ago and the company, more broadly announced that they were going to be selling 20-state ILEC business to Apollo. And when that deal closed, they would relook at capital allocation priorities, and that's exactly what they did. So the deal closed in early October. At that time, we were also looking at the EMEA business, and we've reached an arrangement with Colt for that business to transfer. And so when we look at both of those pieces, the Board felt, with obviously management support, that n Show less Read more
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