8-KCorporate ChangesRegulation FDExhibits & Filings

CROWN CASTLE INC. 8-K Report, Bylaw Amendment (Aug 4, 2015)

Filed August 4, 2015For Securities:CCI

Summary

Crown Castle International Corp. (CCI) filed an 8-K on August 4, 2015, detailing two key updates for investors. Firstly, the company's Board of Directors adopted amended and restated By-Laws on July 30, 2015. A significant change within these By-Laws is the establishment of an exclusive forum for certain legal actions, designating the Court of Chancery of the State of Delaware as the primary venue. This amendment aligns the company's governance with recent Delaware legislation, aiming to streamline and centralize legal proceedings related to corporate matters. Secondly, the filing includes a press release dated August 3, 2015, announcing the declaration of a quarterly dividend. CCI declared a dividend of $0.82 per share of common stock, scheduled to be paid on September 30, 2015, to shareholders of record on September 18, 2015. This dividend declaration is a positive signal to shareholders, indicating continued profitability and a commitment to returning value to investors.

Key Highlights

  • 1Amended and Restated By-Laws adopted on July 30, 2015, establishing an exclusive forum for legal actions in Delaware.
  • 2Exclusive forum provision designates the Court of Chancery of the State of Delaware (or other Delaware courts if necessary) for specific legal disputes.
  • 3By-Law amendment aligns with recent Delaware corporate law changes regarding exclusive forum selection.
  • 4Company declared a quarterly dividend of $0.82 per share of common stock.
  • 5The dividend payment date is September 30, 2015.
  • 6Record date for the dividend is September 18, 2015.
  • 7Press release announcing the dividend was issued on August 3, 2015.

Frequently Asked Questions

The primary purpose of the amended By-Laws is to establish an exclusive forum for certain legal actions against or on behalf of the Company. This means that specific types of lawsuits must be brought in the Delaware Court of Chancery or other relevant Delaware courts, aligning with recent Delaware legislation and potentially simplifying legal proceedings.

Crown Castle International Corp. declared a quarterly dividend of $0.82 per share of common stock. This dividend will be paid on September 30, 2015, to shareholders who are on record as of the close of business on September 18, 2015.

For shareholders initiating specific types of legal actions against the company, the exclusive forum provision means they will need to file their lawsuits in Delaware courts rather than in courts in other states or jurisdictions, unless the company agrees otherwise. This can lead to more predictable legal processes for the company.

According to the 8-K filing, the information in Item 7.01 (Regulation FD Disclosure) and Exhibit 99.1 (the press release) is furnished and shall not be deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, nor incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except as expressly stated in a filing.