During 1Q16, $VZ entered into a license exchange agreement with affiliates of $S, which provides for the exchange of certain AWS and PCS spectrum licenses. This non-cash exchange is expected to be completed in 3Q16 and the company expects to record an immaterial gain.
$GTY issued $50MM of senior unsecured notes maturing in 2025 bearing interest at a fixed rate of 4.75%. Proceeds from the transaction were used to repay outstanding debt on the company's floating rate revolving credit facility.
$LMNX BoD has authorized the initiation of a quarterly cash dividend of $0.06 to holders of its common stock, the first in the company's history. This initial cash dividend will be payable on April 14, 2017 to shareholders of record as on March 24, 2017.
M&T Bank, the principal banking subsidiary of $MTB, said President and COO Mark Czarnecki died on Feb. 26, 2017 after an extended illness. He was a member of the BoDs of $MTB and M&T Bank, and sat on $MTB's Management Committee.
$KEYS and Samsung Electronics entered into a technology collaboration to enable design and deployment of 5G devices to support early operator trials. The initial focus of the partnership is on 5GTF specifications. Future collaboration will include work being done in 3GPP NR.