Atlantic Tele-Network Inc., GT&T’s parent company,   announced on Tuesday that its Board of Directors had declared a quarterly dividend of US$0.18 per share, payable on October 14, 2008, on all common shares outstanding to stockholders on record at  October 2 this year.

According to a Business Wire release from Salem, Massachusetts, this represents an increase of two US cents or 12.5% in the dividend paid from the previous quarter, and if maintained it will equate to an annual increase of eight US cents, from US$0.64 per share to US$0.72 per share.
The release also quoted Michael T. Prior, Chief Executive Officer of the company, as saying: “We are very pleased to have reached this milestone of our tenth consecutive annual increase in our dividend.
Our entire team is proud of our track record of delivering both current income and capital appreciation to our shareholders.” GT&T is 80% owned by ATN while 20% is held by Guyana.

Atlantic Tele-Network, Inc. (NASDAQ: ATNI) is a telecommunications company headquartered in Salem, Massachusetts and one of its principal subsidiaries is Guyana Telephone and Telegraph Company Limited, Guyana’s  national telephone service provider for all local, long-distance and international service, as well as wireless service provider.

Other major subsidiaries are Commnet Wireless, LLC, which provides voice and data wireless roaming services for U.S. and international carriers in rural areas throughout the United States; Bermuda Digital Communications Ltd., which is the leading provider of wireless voice and data services in Bermuda; Sovernet, Inc., which provides wireline voice and data services to businesses and homes in New England; and Choice Communications, LLC, which provides wireless television and wireless broadband services in the U.S. Virgin Islands.