RESTON, Va.—Sprint Nextel Corp. announced plans to pay shareholders a 2.5 cents-per-share dividend beginning in the third quarter.
The company said its second-quarter dividend payout is expected to total $75 million, the same amount as the quarterly dividend amount its soon-to-be spun-off local wireline business Embarq Corp. is expected to pay its stockholders in the first full quarter after the second-quarter spinoff.
Sprint Nextel said Embarq’s annual revenues are expected to be about $6 billion based on some 7.4 million access lines.
Both dividend payouts are subject to board approval.
