Lumen Technologies Inc (NYSE:LUMN)
$ 7.34 -0.03 (-0.41%) Market Cap: 7.45 Bil Enterprise Value: 23.63 Bil PE Ratio: 0 PB Ratio: 21.78 GF Score: 51/100
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Lumen Technologies Inc at RBC Capital Markets Global Technology, Internet, Media & Telecom Conference Transcript

Nov 15, 2022 / 08:45PM GMT
Release Date Price: $6.08 (-3.65%)
Christopher David Stansbury
Lumen Technologies, Inc. - Executive VP & CFO

Thanks. It's good to be here.

Questions & Answers

Bora Lee;Marks
RBC Capital Markets, Research Division - Assistant VP

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?

Christopher David Stansbury
Lumen Technologies, Inc. - Executive VP & CFO

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

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