Frontier (NYSE: FTR) announced a deal with Verizon Communications (VZ) in May 2009. Frontier acquired approximately 4.8 million access lines from Verizon, tripling the size of the company. The all-stock transaction was valued at approximately $8.6 billion and closed July 1, 2010. Go here for more detail.
In our first article we concluded, “The dividend is safe in the near term. Longer term depends on how successful they are at integrating the remaining parts of SpinCo and whether they fall short of their 2011 guidance.” This article examines two areas the dividend is dependent on; operational results and pension liabilities.
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