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Press Releases

NEW ULM, MN - On August 31, 2010, the Board of Directors of New Ulm Telecom, Inc. declared a 3rd quarter dividend in the amount of $.08 per share. The dividend will be paid to shareholders of record at the close of business on September 10, 2010 and will be payable on September 15, 2010.

NEW ULM, MN – July 1, 2010 -- NU-Telecom recently purchased the cable television system from Midcontinent Communications in and around Glencoe, MN, finalizing the purchase agreement officially on June 14th. NU-Telecom is a communications and technology provider with corporate headquarters in New Ulm, MN and additional Minnesota offices located in Redwood Falls, Springfield, Hutchinson, Litchfield, and another in Aurelia, IA. NU-Telecom also operates TechTrends, a technology retail store in New Ulm.
The local Glencoe office will continue to be located at 2104 E 10th Street with new convenient office hours of 9:00 am to 1:00 pm and 1:30 pm to 5:30 pm Monday through Friday.
NU-Telecom will host an open house at this location on Friday, July 9th. Glencoe residents are invited to stop by and meet the staff, check out the expanded retail area and learn about the new services available. A picnic lunch will be served from 11:00 am to 1:00 pm, as well as snacks throughout the day. There will also be prizes, gifts and promotions.
“NU-Telecom is celebrating our 105th anniversary this year and we’re excited to now be a part of the Glencoe community as we continue growing,” said Barb Bornhoft, Vice President of NU-Telecom. “NU-Telecom employees value their relationships with customers and are dedicated to providing exceptional customer care. Customers will have access to staff at the local office, as well as the expertise of the entire NU-Telecom team.”
NU-Telecom residential and business service offerings also include Unicel, monitoring systems, on-line file backup and storage, phone systems, managed services, and more. TechTeam services include Internet/computer support, computer sales, computer repair/tune-up and networking. There is also an expanded technology retail area at the store.
For more information regarding NU-Telecom you may visit the website at www.nutelecom.net. Local residents are also encouraged to stop by, or call 320-864-2818, to introduce yourself to the staff as well as ask any questions you may have.

NEW ULM, MN - On April 27, 2010, the Board of Directors of New Ulm Telecom, Inc. declared a 2nd quarter dividend in the amount of $.08 per share. The dividend will be paid to shareholders of record at the close of business on May 7, 2010 and will be payable on June 15, 2010.

NEW ULM, MN - March 11, 2010 – NU-Telecom was recently named one of the 16 “Honor Roll” companies in The 2009 Minnesota Census: Women in Corporate Leadership study. This study, conducted by St. Catherine University in collaboration with the Minnesota Women's Economic Roundtable, was unveiled February 9th at the St. Catherine Forum on Women in Leadership. Companies making the “Honor Roll” list have at least 20 percent women corporate directors and at least 20 percent women executive officers.

Other Minnesota companies making the “Honor Roll” list included Allete, Inc.; Capella Education Company; Christopher and Banks Corporation; CyberOptics Corporation; Deluxe Corporation; Famous Dave’s of America, Inc.; Health Fitness Corp.; HMN Financial, Inc.; MTS Systems Corporation; Navarre Corp.; Select Comfort Corporation; St. Jude Medical, Inc.; SUPERVALU, Inc.; Target Corporation and UnitedHealth Group, Inc. Three of these 16 companies — CyberOptics, MTS Systems and Target — made “Special Distinction” status for having at least 30 percent women corporate directors and at least 30 percent women executive officers.

St. Catherine sponsored the research along with the Minnesota Women’s Economic Roundtable, which serves as the state’s member representative with ION (InterOrganization Network), a national nonprofit group that works to advance women to positions of power and influence in the business world.

NEW ULM, MN - On February 23, 2010, the Board of Directors of New Ulm Telecom, Inc. declared a 1st quarter dividend in the amount of $.08 per share. The dividend will be paid to shareholders of record at the close of business on March 5, 2010 and will be payable on March 15, 2010.

NEW ULM, MN - On November 24, 2009, the Board of Directors of New Ulm Telecom, Inc. declared a 4th quarter dividend in the amount of $.08 per share. The dividend will be paid to shareholders of record at the close of business on December 10, 2009 and will be payable on December 15, 2009.

NEW ULM, MN - On September 24, 2009, New Ulm Telecom, Inc. (“New Ulm”) (NULM.OB) announced that it had completed the sale to Iowa Telecommunications Services, Inc. (“ITS”) of its equity ownership interests in SHAL, LLC, SHAL Networks, Inc., Direct Communications, LLC, and En-Tel Communications, LLC for approximately $1.9 million in cash. 

NEW ULM, MN - On August 25, 2009, the Board of Directors of New Ulm Telecom, Inc. declared a 3rd quarter dividend in the amount of $.08 per share. The dividend will be paid to shareholders of record at the close of business on September 4, 2009 and will be payable on September 15, 2009.

NEW ULM, MN – On July 2, 2009, New Ulm Telecom, Inc. (“New Ulm”) (NULM.OB) announced that an agreement was reached with Iowa Telecommunications Services, Inc. (“ITS”) under which New Ulm will sell to ITS its equity ownership interests in SHAL, LLC (33.33%), SHAL Networks, Inc. (33.33%), Direct Communications, LLC (33.33%) and En-Tel Communications, LLC (approximately 30.88%) for approximately $1.7 million in cash, subject to specified customary adjustments.

The sale of these minority owned investments allow New Ulm to monetize non-core investments. In addition, this transaction will release New Ulm from approximately $5.7 million in loan guarantees to RTFC for loans to SHAL, LLC and En-Tel Communications, LLC. The sale is expected to close in the fall of 2009.

SHAL owns and leases a 2,500-mile fiber-optic network throughout Minnesota that provides access to low cost, high quality transport facilities. En-Tel Communications is a CLEC based in Willmar, Minnesota, providing local voice, DSL and digital video services to customers in central Minnesota.
 

NEW ULM, MN - On May 26, 2009, the Board of Directors of New Ulm Telecom, Inc. declared a 2nd quarter dividend in the amount of $.10 per share. The dividend will be paid to shareholders of record at the close of business on June 5, 2009 and will be payable on June 15, 2009.

NEW ULM, MN - On January 27, 2009, the Board of Directors of New Ulm Telecom, Inc. declared a 1st quarter dividend in the amount of $.10 per share. The dividend will be paid to shareholders of record at the close of business on March 6, 2009 and will be payable on March 13, 2009.

NEW ULM, MN - On November 25, 2008, the Board of Directors of New Ulm Telecom, Inc. declared a 4th quarter dividend in the amount of $.10 per share. The dividend will be paid to shareholders of record at the close of business on December 5, 2008 and will be payable on December 15, 2008.

NEW ULM, MN - On August 26, 2008, the Board of Directors of New Ulm Telecom, Inc. declared a 3rd quarter dividend in the amount of $.10 per share. The dividend will be paid to shareholders of record at the close of business on September 15, 2008 and will be payable on September 23, 2008.

NEW ULM, MN - On April 22, 2008, the Board of Directors of New Ulm Telecom, Inc. declared a 2nd quarter dividend in the amount of $.10 per share. The dividend will be paid to shareholders of record at the close of business on May 5, 2008 and will be payable on June 13, 2008. Thank you.

January 15, 2008 - New Ulm Telecom, Inc. Receipt of Midwest Wireless
New Ulm Telecom, Inc. (“New Ulm”) announced today that it has received the final payment of funds received from the November 2006 Midwest Wireless Holding (“MWH”) transaction.

New Ulm announced that it had received from escrow $5,331,000 in principal plus accrued interest and that its newly-acquired subsidiary, Hutchinson Telephone Company also received a payment of $1,128,000 in principal plus accrued interest. The aggregate amount received by both companies, including accrued interest, is approximately $6,459,000.

New Ulm intends to use the money for general working capital purposes and repayment of debt.

As previously announced, on January 4, 2008, New Ulm acquired Hutchinson Telephone Company for approximately $78 million and borrowed approximately $60 million from Co-Bank to finance the acquisition. The price that New Ulm paid for Hutchinson Telephone Company reflected the anticipated receipt of the MWH funds by Hutchinson Telephone Company.

In addition, Hector Communication Corporation, of which New Ulm is a one-third owner, also received a final payment from the escrow account of approximately $4,323,000 in principal plus accrued interest.
Background on the MWH Transaction
In connection with the acquisition of MWH by Alltel in October 2006, New Ulm received approximately 90% of the sale proceeds attributable to its interest or approximately $74 million on October 6, 2006. Alltel delivered the other 10% to the escrow agent. The escrow account was established to be used for any true-up adjustments, indemnifications, and other specified costs under the acquisition. Funds not used for these purposes were to be released to the former shareholders of MWH. New Ulm had received a payment of approximately $3 million plus accrued interest in April 2007. Due to the contingencies for release of the escrow funds, the Company had not recorded a receivable for any part of the funds prior to their receipt.
Forward-Looking Statements
Statements about New Ulm’s future prospects are forward-looking and, therefore, involve certain risks and uncertainties. These and other risk factors are discussed in New Ulm’s Report on Form 10-K for the year ended December 31, 2006 and from time to time in its other filings with the Securities and Exchange Commission. In addition to these factors, forward-looking statements in this press release are subject to the ability of New Ulm to operate the combined company in a profitable manner after the merger.

On January 2, 2008- New Ulm Telecom, Inc. and Hutchinson Telephone Company Announce Anticipated Closing Date for Merger
New Ulm, MN - New Ulm Telecom, Inc. (“New Ulm”) (NULM.OB) and Hutchinson Telephone Company (“HTC”) announced today that they received all the approvals for the closing of the merger agreement under which New Ulm will acquire Hutchinson Telephone Company. The transaction is expected to close on or before Friday, January 4, 2008. It is being structured as a reverse triangular merger under which a newly-formed subsidiary of New Ulm will merge into HTC at closing, with HTC continuing to operate as a subsidiary of New Ulm.
About New Ulm
New Ulm owns and operates incumbent local exchange carriers (ILECs) and a competitive local exchange carrier (CLEC) that provide, own and operate phone, video and internet services in a number of Minnesota and Iowa communities. New Ulm also sells and services cellular phones and accessories, customer premise equipment and transport operations. New Ulm also holds a 25.18% investment in FiberComm, LC, a CLEC based in Sioux City, Iowa and holds a 33.33% ownership interest in Hector Communications Corporation, which provides phone, video and internet services to a number of communities in Minnesota and Wisconsin.
Forward-Looking Statements
Statements about New Ulm’s future prospects are forward-looking and, therefore, involve certain risks and uncertainties. These and other risk factors are discussed in New Ulm’s Report on Form 10-K for the year ended December 31, 2006 and from time to time in its other filings with the Securities and Exchange Commission.

On November 27, 2007, the Board of Directors of New Ulm Telecom, Inc. declared a 4th quarter dividend in the amount of $.10 per share. The dividend will be paid to shareholders of record at the close of business on December 7, 2007 and will be payable on December 14, 2007.

On August 28, 2007, the Board of Directors of New Ulm Telecom, Inc. declared a 3rd quarter dividend in the amount of $.10 per share. The dividend will be paid to shareholders of record at the close of business on September 7, 2007 and will be payable on September 14, 2007.

CAUTIONARY STATEMENT The Private Securities Litigation Reform Act of 1995 contains certain safe harbor provisions regarding forward-looking statements. These statements may include, without limitation, statements with respect to anticipated future operating and financial performance, growth opportunities and growth rates, acquisition and divestiture opportunities, business strategies, business and competitive outlook and other similar forecasts and statements of expectation. Words such as expects, anticipates, intends, plans, believes, seeks, estimates and should, and variations of these words and similar expressions, are intended to identify these forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from such statements. Due to the uncertainties listed and the fact that any forward-looking statements made by New Ulm Telecom, Inc. and its management are based on estimates, projections, beliefs and assumptions of management, they are not guarantees of future performance. Except as required by law, New Ulm Telecom, Inc. disclaims any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt of new information, or otherwise.