Any Sprint Nextel shareholder of record at the close of business on Sept. 7, 2007, has a quarterly dividend coming. The board of directors announced that a share of Sprint Nextel Common Stock returns 2.5 cents, payable Sept. 28, 2007.
According to the Baltimore Business Journal, Sprint Nextel’s second quarter earnings dropped 94% because of costs associated with the company’s launching of its WiMAX wireless network. Sprint Nextel spent $51 million in the second quarter on the WiMAX initiative and plans to spend $1 billion in 2007 on the initiative.
Sprint Nextel plans to test its WiMAX wireless network in the cities of Chicago, Baltimore and Washington by the end of the year. The company’s third quarter earnings will be announced at the end of September.