SBA Communications Corporation (NASDAQ:SBAC) stock rose 3.42% (As on Mar 1, 12:02:59 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 21. Tower Cash Flow in the fourth quarter of 2021 of $434.1 million was comprised of Domestic Tower Cash Flow of $358.4 million and International Tower Cash Flow of $75.7 million. Domestic Tower Cash Flow in the fourth quarter of 2021 increased 8.6% over the prior year period and International Tower Cash Flow increased 5.0% over the prior year period, or increased 7.0% on a constant currency basis. Tower Cash Flow Margin was 81.9% in the fourth quarter of 2021, as compared to 81.6% for the prior year period. Adjusted EBITDA in the fourth quarter of 2021 was $409.1 million, a 7.5% increase over the prior year period. Adjusted EBITDA Margin in the fourth quarter of 2021 was 69.8% compared to 71.0% in the prior year period. AFFO in the fourth quarter of 2021 was $310.8 million, an 11.0% increase over the prior year period. SBA ended the fourth quarter of 2021 with $12.4 billion of total debt, $9.4 billion of total secured debt, $433.6 million of cash and cash equivalents, short-term restricted cash, and short-term investments, and $12.0 billion of Net Debt

SBAC in the fourth quarter of FY 21 has reported the adjusted funds from operations per share of $2.81, beating the analysts’ estimates for the adjusted funds from operations per share of $2.79, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 11.1 percent to $595.3 million in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $591.9 billion. Domestic cash site leasing revenue in the fourth quarter of 2021 was $421.7 million compared to $391.9 million in the prior year period, an increase of 7.6%. International cash site leasing revenue in the fourth quarter of 2021 was $108.1 million compared to $100.9 million in the prior year period, an increase of 7.2%, or an increase of 9.3% on a constant currency basis. Site development revenues in the fourth quarter of 2021 were $55.9 million compared to $43.0 million in the prior year period, an increase of 30.0%.

Additionally, the company has declared a quarterly cash dividend of $0.71 per share of the Company’s Class A Common Stock, an increase of approximately 22% over the dividend paid in the fourth quarter.