FairPoint aims for dividend, sells notes

FairPoint Communications, which is in the process of closing a $2.3 billion deal to acquire wireline properties spun off from Verizon Communications, declared a first-quarter dividend of 39.78 cents per share, contingent upon the deal closing by March 31. The company also announced it is offering for sale $540 million in senior notes in the former Verizon properties, which are now called Northern New England SpinCo Inc.

For more:
- read this Dow Jones Newswires story about the dividend at CNN Money
- see this Associated Press story about the notes sale at The Houston Chronicle

Related article:
- New Hampshire finally approved FairPoint's acquisition bid late last month