Smart People Buy Dumb Pipes
highly disciplined allocator of capital
Cogent is
focused on
driving
profitability
and efficiently
allocating
capital.
.
M&A Discipline: Cogent has evaluated and passed on 825 acquisitions since
2005.
Sprint (T-Mobile Wireline) Acquisition: Cogent paid $1 for the Purchased
Interests
О
Less a commitment from T-Mobile to purchase $700 Million in
IP Transit services from Cogent in the 54 months post-closing
Cogent receives payments for working capital deficit which
includes acquired cash and cash equivalents in months 55 to 58
after the Closing Date
Acquisition bargain purchase gain $1.2 Billion, or $23.97 per
share
Cost Discipline: Cogent has improved its EBITDA and Adjusted Gross Margin
consistently over 20 years.
Returning Capital: Cogent has returned over $1.3 Billion to shareholders
since our 2005 public offering.
Bought back over 10MM shares.
Management Ownership: Senior Management owns approximately 11% of
Cogent and gets compensated primarily in stock.
Dividend Record: Cogent has increased its dividend for 45 straight quarters
sequentially.
cogent
Smart People
Buy Dumb Pipes
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