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18MAR201504231648
United States Cellular Corporation
SHAREHOLDER INFORMATION
Stock and dividend information
U.S. Cellular’s Common Shares are listed on the New York Stock Exchange under the symbol ‘‘USM’’
and in the newspapers as ‘‘US Cellu.’’ As of January 31, 2015, the last trading day of the month, U.S.
Cellular’s Common Shares were held by approximately 311 record owners. All of the Series A Common
Shares were held by TDS. No public trading market exists for the Series A Common Shares. The
Series A Common Shares are convertible on a share-for-share basis into Common Shares.
U.S. Cellular has not paid any cash dividends, except for a special cash dividend of $5.75 per share in
June 2013, and currently intends to retain all earnings for use in U.S. Cellular’s business.
See ‘‘Consolidated Quarterly Information (Unaudited)’’ for information on the high and low trading prices
of the USM Common Shares for 2014 and 2013.
Stock performance graph
The following chart provides a comparison of U.S. Cellular’s cumulative total return to shareholders
(stock price appreciation plus dividends) during the previous five years to the returns of the Standard &
Poor’s 500 Composite Stock Price Index and the Dow Jones U.S. Telecommunications Index. As of
December 31, 2014, the Dow Jones U.S. Telecommunications Index was composed of the following
companies: AT&T Inc., CenturyLink Inc., Frontier Communications Corp., Level 3 Communications Inc.,
SBA Communications Corp., Sprint Corp., T-Mobile US Inc., Telephone and Data Systems, Inc. (TDS),
Verizon Communications Inc., and Windstream Holdings Inc.
$0
$50
$150
$100
$250
$200
2009 2010 2011 201420132012
S&P 500 IndexU.S. Cellular (NYSE:USM) Dow Jones U.S. Telecommunications Index
* Cumulative total return assumes reinvestment of dividends.
2009 2010 2011 2012 2013 2014
U.S. Cellular (NYSE: USM) .............. $100 $117.76 $102.88 $ 83.09 $115.54 $110.05
S&P 500 Index ...................... 100 115.06 117.49 136.30 180.44 205.14
Dow Jones U.S. Telecommunications Index . . 100 117.74 122.41 145.42 165.96 169.93
Assumes $100.00 invested at the close of trading on the last trading day preceding the first day of 2009,
in U.S. Cellular Common Shares, S&P 500 Index and the Dow Jones U.S. Telecommunications Index.
81