Denver, February 8, 2001 - Qwest Communications International Inc. (NYSE:Q), the broadband Internet communications company, today announced that it intends to pay a dividend of five cents per share on its common stock on or before June 30, 2001, the first anniversary date of its acquisition of U S WEST, Inc.
Qwest Board of Directors intends to declare the dividend and establish the record date and payment date for the dividend at its scheduled meeting on May 2, 2001. Qwest expects to announce the dividend declaration following that meeting.
There are approximately 1.65 billion shares of Qwest common stock outstanding.About Qwest
Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband Internet-based data, voice and image communications for businesses and consumers. The Qwest Macro Capacity Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 104,000 miles globally. For more information, please visit the Qwest web site at www.qwest.com.
This release may contain projections and other forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest with the Securities and Exchange Commission, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, volatility of Qwest's stock price, intense competition in the communications services market, changes in demand for Qwest's products and services, dependence on new product development and acceleration of the deployment of advanced new services, such as broadband data, wireless and video services, which could require substantial expenditure of financial and other resources in excess of contemplated levels, higher than anticipated employee levels, capital expenditures and operating expenses, rapid and significant changes in technology and markets, adverse changes in the regulatory or legislative environment affecting Qwest's business and delays in Qwest's ability to provide interLATA services within its 14-state local service territory, failure to maintain rights of way, and failure to achieve the projected synergies and financial results expected to result from the acquisition of U S WEST timely or at all and difficulties in combining the operations of Qwest and U S WEST. The Qwest board of directors has not declared the payment of the dividend that is described in this release. This release does not constitute the declaration of any dividend. By disclosing its intention with respect to the declaration and payment of a dividend on or before June 30, 2001, Qwest undertakes no legal obligation with respect to the declaration of that dividend on any date, or in any amount, or with respect to the payment of any other dividend thereafter. This release supersedes any prior statement or undertaking by Qwest to declare or pay any dividend. This release may include analysts' estimates and other information prepared by third parties for which Qwest assumes no responsibility. Qwest undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The Qwest logo is a registered trademark of, and CyberCenter is a service mark of, Qwest Communications International Inc. in the U.S. and certain other countries.
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