|
the prior year, despite less-than-ideal market conditions. While consolidating
our major
|
|
acquisitions of the past several years, and while our industry was experiencing
a period
|
|
of considerable change and uncertainty, our Communications business
saw its revenue
|
|
and operating cash flow grow 13 percent and 9 percent, respectively,
to $5.5 billion and
|
|
$2.4 billion. Likewise, while the global information services industry
was working to
|
|
regain pre-Y2K sales momentum, ALLTEL Information Services delivered
record
|
|
revenues of $1.3 billion and operating income of $185 million. As a
result of this
|
|
continuing strong performance, the Board approved an increase in the
annual dividend
|
| |
for the 40th consecutive year, raising the indicated annual rate 3 percent
to $1.32 per
|
| |
common share.
|
| |
|
| |
With the sale of our WorldCom holdings and selected PCS licenses, and
our $660 million
|
| |
leasing agreement with American Tower, the Company enters 2001 with
a significantly
|
| |
stronger balance sheet and an even tighter focus on the businesses
and customers we
|
| |
know best. Thanks to this commitment, we have shown that we can not
only hold our
|
| |
share of a turbulent marketplace, but continue to expand and develop.
And with the
|
| |
assetswe now possess — a nationwide wireless service platform;
a rapidly expanding
|
| |
customer base; and larger, more clustered geographic markets, to name
but three —
|
| |
ALLTEL remains well positioned to take advantage of the opportunities
in the
|
|
communications business.
|
| |
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