LITTLE ROCK, Ark., Feb. 14, 2017 (GLOBE NEWSWIRE) -- The board of directors of Windstream Holdings, Inc. (NASDAQ:WIN) has
declared a quarterly dividend of 15 cents per share on the company’s common stock.
The dividend will be distributed in two separate, prorated payments, provided that Windstream’s planned merger with EarthLink
Holdings Corp. (NASDAQ:ELNK) closes in the first quarter of 2017, as expected, subject to customary closing conditions.
The first prorated payment will be calculated based on the number of days elapsed from the beginning of the first quarter on
Jan. 1, 2017, up to, and including, the day immediately prior to the closing date of the merger. The dividend will be paid as soon
as practicable after the closing date of the merger to Windstream stockholders of record as of the last business day immediately
prior to the closing date of the merger.
The second prorated payment will be calculated based on the number of days elapsed from, and including, the closing date of the
merger through March 31, 2017, the end of the first quarter. The second prorated portion of the dividend will be paid on or about
April 17, 2017, to Windstream stockholders of record as of March 31, 2017.
In the event the merger does not close by March 31, 2017, Windstream stockholders of record as of March 31, 2017, will receive a
quarterly dividend of 15 cents per share on the company’s common stock payable on or about April 17, 2017.
About Windstream
Windstream Holdings, Inc. (NASDAQ:WIN), a FORTUNE 500 company, is a leading provider of advanced network communications and
technology solutions for consumers, small businesses, enterprise organizations and carrier partners across the U.S. Windstream
offers bundled services, including broadband, security solutions, voice and digital TV to consumers. The company also provides
data, cloud solutions, unified communications and managed services to business and enterprise clients. The company supplies core
transport solutions on a local and long-haul fiber-optic network spanning approximately 125,000 miles. Additional information is
available at windstream.com. Please visit our newsroom at news.windstream.com or follow us on Twitter at @Windstream.
Cautionary Statement Regarding Forward-Looking Statements
This filing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are typically identified by words or phrases such as “will,” “anticipate,” “estimate,” “expect,”
“project,” “intend,” “plan,” “believe,” “target,” “forecast,” and other words and terms of similar meaning. These forward-looking
statements involve a number of risks and uncertainties. Windstream cautions readers that any forward-looking statement is not a
guarantee of future performance and that actual results could differ materially from those contained in the forward-looking
statement. Such forward-looking statements include, but are not limited to, statements about the benefits of the proposed merger
involving Windstream and EarthLink, including future financial and operating results, Windstream’s and EarthLink’s plans,
objectives, expectations and intentions, the expected timing of completion of the transaction, and other statements that are not
historical facts. Important factors that could cause actual results to differ materially from those indicated by such
forward-looking statements are set forth in Windstream’s filings with the Securities and Exchange Commission. These include risks
and uncertainties relating to: the ability to obtain the requisite Windstream and EarthLink shareholder approvals; the risk that
Windstream or EarthLink may be unable to obtain governmental and regulatory approvals required for the merger, or required
governmental and regulatory approvals may delay the merger or result in the imposition of conditions that could cause the parties
to abandon the merger; the risk that a condition to closing of the merger may not be satisfied; the timing to consummate the
proposed merger; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other
synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the
transaction making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management
time on merger-related issues; general worldwide economic conditions and related uncertainties; and the effect of changes in
governmental regulations. Windstream undertakes no obligation to publicly update any forward-looking statement, whether as a result
of new information, future events or otherwise.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation
of any vote or approval. In connection with the proposed merger between Windstream and EarthLink, on December 8, 2016 Windstream
filed with the SEC a registration statement on Form S-4 that includes a preliminary joint proxy statement of Windstream and
EarthLink and that also constitutes a preliminary prospectus of Windstream. The S-4, as amended, was declared effective by the SEC
on January 17, 2017 and the definitive joint proxy statement/prospectus was first mailed to stockholders of Windstream and
EarthLink on or about January 25, 2017. Windstream and EarthLink urge investors and shareholders to read the
registration statement, and any other relevant documents filed with the SEC, including the preliminary joint proxy
statement/prospectus that is a part of the registration statement, and the definitive joint proxy statement/prospectus, because
they contain or will contain important information. You may obtain copies of all documents filed with the SEC
regarding this transaction, free of charge, at the SEC’s website (www.sec.gov). You may also obtain these documents, free of charge, from Windstream’s
website (www.windstream.com/investors). You may also obtain these documents, free of charge, from
EarthLink’s website (www.earthlink.com) under the tab “Investor Relations.”
Participants in the Merger Solicitation
Windstream, EarthLink and their respective directors, executive officers and certain other members of management and employees
may be soliciting proxies from Windstream and EarthLink shareholders in favor of the merger and related matters. Information
regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the companies’
shareholders in connection with the proposed merger are set forth in the definitive joint proxy statement/prospectus, dated January
23, 2017. You can find information about Windstream’s executive officers and directors in its definitive proxy statement filed with
the SEC on April 1, 2016. You can find information about EarthLink’s executive officers and directors in its definitive proxy
statement filed with the SEC on March 15, 2016. You can obtain free copies of these documents from the companies using the website
information above.
Media Contact: David Avery, 501-748-5876 david.avery@windstream.com Investor Contact: Christie Grumbos, 501-748-3666 christie.grumbos@windstream.com
