Centurylink Inc (NYSE:CTL) reported that its Board of Directors voted to announce a quarterly cash dividend of $0.54 a share, to be paid on September 15, 2017, as of record September 5, 2017. Glen F. Post III, the CEO and President, expressed that the company’s board and management view the quarterly cash payout as a vital part of their value proposition for shareholders.
Upon completion of the Level III acquisition, they expect generating around a billion dollars in cash synergies, and notable cash tax savings from the quicker acknowledgement of net operating losses during Level 3. These cash savings, together with focus on profitable growth, are projected to drive increasing free cash flow a share, improve dividend payout ratio and enhance overall financial flexibility.
Earlier in the month, Centurylink signed a deal permitting it to sell King & Union’s Avalon to the firm’s government and commercial clients. This platform offers consumers better contextual picture and situational awareness of the cyber threat environment through threat visualization and dynamic graphing. It eliminates information sharing barriers, allows threat analysts to cooperate within and across teams, and offers unique intelligence and insights with automated threat enrichment offerings utilizing proprietary and sensitive data sources.
Erich Sanchack, the GM and SVP, Federal Solutions with Centurylink, reported that the company is thrilled to be King & Union’s first reseller for its cyber analysis collaboration platform. They are committed to the country’s cybersecurity mission and to offering consumers with industry-leading cybersecurity measures and assessment that enhance a firm’s cyber risk posture. Avalon complements company’s managed security services plans, including its Enhanced Cybersecurity Services offering approved by the U.S. Department of Homeland Security.
John Cassidy, the President of King & Union, reported that they are delighted to be working with Centurylink, which is a known name in public-private cyber information sharing measures and a renowned provider of security services.