PARIS — For some time now, mobile satellite service provider Iridium Communications has viewed the mismatch between its business prospects, which it says are glowing, and its stock price and concluded: Build it and they will come.
Build the business, especially the fast-growing narrowband IoT segment, but also its work for the US government; maintain its position in maritime as a backup to legacy satellite providers and the new entrants including Starlink; reduce its debt; hold off material capex until the end of the decade; grow the dividend, buy . . .
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