LITTLE ROCK, Ark. -- Windstream Corporation (NYSE: WIN) achieved solid results and generated $214 million in free cash flow in the second quarter. For the first half of the year, the company produced $374 million in free cash flow through efficient management of operating and capital expenses. Windstream has reduced its capital expenditures forecast for the year. In addition, the company repurchased another $100 million in shares during the second quarter and has reached an agreement to sell its North Carolina wireless properties.

“Windstream continues to produce strong cash flow that, combined with our share repurchases and capital reductions, should significantly improve our dividend payout ratio compared to last year,” said Jeff Gardner, president and CEO. “I am pleased that we have returned approximately $425 million to shareholders during the first half of this year through dividends and share repurchases. This is a testament to the tremendous performance of the entire Windstream team to deliver consistent industry-leading results.”

Windstream Communications Inc. (Nasdaq: WIN)