By Connor Hart
Crown Castle slashed its dividend to $1.0625 a share from $1.565 a share.
The new payout, equal to $4.25 a year, represents an annual yield of about 4.2% based on Wednesday's closing price of $101.52.
The lower dividend will be paid June 30 to shareholders of record as of June 13, the Houston-based operator of wireless communications towers said.
The cut comes after Interim Chief Executive Dan Schlanger said last month that the company anticipated reducing its annualized dividend to $4.25 a share in the second quarter.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 21, 2025 16:58 ET (20:58 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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