U S West Inc.’s board of directors has declared a regular, quarterly dividend of 54 cents per share on the common stock of U S West Communications Group. U S West said the dividend is payable May 1 to shareholders of record of U S West Communications Group at the close of business on April 19. On Oct. 31, U S West shareholders voted on the company’s proposal to implement a targeted stock plan and create two classes of common stock, the company said. Under the terms of the proposal, each share of common stock of U S West Inc. was converted into one share of common stock of U S West Communications Group and one share of common stock of U S West Media Group.
Olympia, Wash.-based US Intelco Holdings and Independent Telecommunications Network of Overland Park, Kan., announced they have completed their merger and named Roger Moore president and chief executive officer of the new corporation. The merger draws together services such as calling name delivery, 800 and line information databases, network usage measurement capabilities, Advanced Intelligent Network architecture and ITN’s SS7 network, the companies said.
Omnipoint Corp. reported a net loss of $37.8 million, or 96 cents per share on a pro forma basis, for the year ended 1995. The company had a net loss of $9.3 million, or 26 cents per share, in 1994. Omnipoint said 1995’s loss reflects its increased research and development for the company’s IS-661 technology and investments made in connection with its rollout of personal communications services in the New York metropolitan area.
Vanguard Cellular Systems Inc. said it plans to offer an estimated $200 million of senior debentures pursuant to an existing $250 million shelf registration. Vanguard said the debentures are expected to be issued during the second quarter and will mature in 2006. Proceeds from the offering will be used to reduce existing revolving indebtedness under the company’s bank credit facility, Vanguard said. The revolving portion of the bank credit facility may be re-borrowed to fund capital expenditures and used for other general corporate purposes, including possible acquisitions and other investments.
Daniels & Associates announced ProNet Inc. has acquired Sun Paging Communications. The sale represents more than 12,000 paging units in Fort Meyers, Orlando, Melbourne, Gainesville and Naples, Fla.
Pick Communications Corp., formerly known as Prime International Products Inc., announced it has signed a multi-year contract with AT&T Wireless Services Inc. of New York to purchase minutes of airtime for its prepaid cellular telephones. Pick said its cellular services in the United States will be marketed through its subsidiary, P.C.T. Prepaid Telephone Inc. Recently Pick also announced its launch of a carrier-to-carrier sales group.
