CHICAGO, April 11 /PRNewswire-FirstCall/ -- Telephone and Data Systems,
Inc. (Amex: TDS) announced today that shareholders approved, at a Special
Meeting of Shareholders held earlier today, an amendment to TDS's Restated
Certificate of Incorporation to increase the authorized number of Special
Common Shares from 20 million to 165 million (the "Special Common Share
The TDS Board of Directors had approved in February a distribution of one
Special Common Share in the form of a stock dividend with respect to each
outstanding Common Share and Series A Common Share of TDS, subject to the
approval of the Special Common Share Proposal by shareholders and certain
With the shareholder approval received today, TDS expects to issue a stock
dividend of one Special Common Share to each outstanding Common Share and
Series A Common Share of TDS as of April 29, 2005, the record date for the
stock dividend. The distribution is expected to take place on May 13, 2005.
The Distribution is intended to be tax-free for U.S. federal income tax
purposes to TDS shareholders.
Shareholders also approved amendments to three plans related to the
Special Common Share Proposal to include the 2004 long-term incentive plan,
the 2003 employee stock purchase plan and the non-employee director
Telephone and Data Systems, Inc., a FORTUNE 500 company, is a diversified
telecommunications corporation founded in 1969. Through its strategic
business units, U.S. Cellular and TDS Telecom, TDS operates primarily by
providing wireless and wireline service. TDS builds value for its
shareholders by providing excellent communications services in growing,
closely related segments of the telecommunications industry. As of Dec. 31,
2004, the company employed approximately 11,500 people and served nearly
6.1 million customers/units in 36 states.
For more information about TDS and its subsidiaries, visit the web sites
TDS: http://www.teldta.com TDS Telecom: http://www.tdstelecom.com
USM: http://www.uscellular.com TDS Metrocom: http://www.tdsmetro.com
SOURCE Telephone and Data Systems, Inc.
/CONTACT: Mark A. Steinkrauss, Vice President-Corporate Relations,
+1-312-592-5384, firstname.lastname@example.org , or Julie D. Mathews, Manager,
Investor Relations, +1-312-592-5341, email@example.com , both of
Telephone and Data Systems, Inc./
/Web site: http://www.teldta.com /
CO: Telephone and Data Systems, Inc.
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