The Bottom Line: TDS Telecommunications, Unitil and Albany

A roundup of news updates from public companies in NH and nationwide

TDS TELECOM TO ACQUIRE GRANITE STATE COMMUNICATIONS

TDS Telecommunications LLC, a wholly owned subsidiary of Telephone and Data Systems, Inc. (NYSE: TDS), has agreed to acquire the fiber optic and voice operations of Granite State Communications, a longstanding independent phone company in New Hampshire. The deal is expected to close in the third quarter of 2026.

The acquisition will expand TDS Telecom’s regional footprint, adding more than 11,000 fiber service addresses and combining two neighboring internet providers. Company officials say the move will strengthen broadband infrastructure and service across the state.

“This acquisition marks an exciting step forward in our mission to deliver world-class connectivity,” said Drew Petersen, senior vice president of corporate affairs at TDS Telecom, noting the company’s continued investment in New Hampshire communities.

Granite State Communications, whose origins date back to 1877, evolved from four local telephone companies: Chester, Sandown, Weare and Triangle. The company has remained family-led for generations and has emphasized network investment and customer service.

“For nearly nine decades, Granite State Communications has been an important part of our family’s journey,” said president Susan Rand King. “It was built over three generations with a commitment to innovation and service.”

Vice President and Chief Strategy Officer Christian Rand said TDS Telecom was selected after careful consideration, citing its track record and commitment to the region.

TDS Telecom, based in Madison, Wisconsin, has operated in New Hampshire since 1970 and currently owns five telephone companies in the state.

UNITIL SHAREHOLDERS ELECT DIRECTORS

Unitil Corporation (NYSE: UTL) held its Annual Meeting of Shareholders on April 29 at the corporate office in Hampton, where shareholders were elected to the board of directors: Neveen F. Awad, Winfield S. Brown and Mark H. Collin, each for a term of three years. Shareholders also ratified the selection of Deloitte & Touche, LLP as independent registered public accountants for 2026.

Additionally, the required shareholder advisory vote concerning executive compensation, also known as “say on pay,” was approved by 96% of shareholders.

Following the meeting, Thomas P. Meissner, Jr., Unitil’s chairman and chief executive officer, presented highlights from 2025 including recent acquisitions, and the company’s strategies for creating long-term sustainable value. Meissner’s presentation is available in the Investor Relations section of the company’s website at investors.unitil.com.

In additional news, the board of directors declared the regular quarterly dividend on the company’s common stock of $0.475 per share, payable May 29, 2026, to shareholders of record on May 14, 2026. This quarterly dividend results in a current effective annualized dividend rate of $1.90 per share.

ALBANY ENGINEERED COMPOSITES RECEIVES PRATT & WHITNEY CONTRACT

Albany Engineered Composites (AEC), a subsidiary of Albany International Corp. (NYSE: AIN), has secured a long-term agreement with Pratt & Whitney (an RTX business) to manufacture composite structural engine components for the Pratt & Whitney GTF commercial engine platform. The contract runs through 2036 and represents AEC’s first volume production program with Pratt & Whitney.

“We are honored to be selected by Pratt & Whitney for this critical composite engine content. This award reflects AEC’s ability to deliver high-volume, high-precision composite structures with consistency and excellence,” said Chris Stone, president of AEC. “It marks a major milestone in our relationship and underscores the strength of our operational performance, our technology and our people.”

This award reflects broader industry trends around increased use of advanced composites in next-generation engine architectures, as well as the need for suppliers capable of delivering at scale with high precision and consistency. It also signals a deepening relationship between AEC and Pratt & Whitney as demand for fuel-efficient propulsion technologies continues to grow.