Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, September 18, 2015

Article Excerpt

ATLANTIC TELE-NETWORK, $73.32, symbol ATNI on Nasdaq, is raising its quarterly dividend by 10.3% with the October 2015 payment, to $0.32 from $0.29. This is the company’s 17th consecutive annual dividend hike. The shares now yield 1.8%. Atlantic owns wireless and wireline (traditional telephone and Internet) operations in the U.S. Southwest, New England, New York State, Guyana, Bermuda and parts of the Caribbean islands. The company continues to expand its wireless capacity and coverage. That’s paying off as customers use more mobile data for services like music downloads, mobile gaming and e-books. As well, earlier this year, Atlantic entered the solar energy market by acquiring 28 solar farms in Massachusetts, California and New Jersey. The company paid $103 million for these assets ($64 million in cash plus the assumption of $39 million of debt). Even after the purchase, Atlantic held cash of $391.8 million, or $24.48 a share. It has almost no debt. The company could use its high cash balance to further…