MANKATO, Minn., June 27, 2011 — HickoryTech Corporation (NADAQ: HTCO), an integrated communications solution provider, joined the U.S. small cap Russell 2000ÒIndex, which was reconstituted on June 24.
Annual reconstitution of Russell’s U.S. equity indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May by total market capitalization. Membership in the Russell 2000, which remains in place for one year, means automatic inclusion in the broad-market Russell 3000Ò Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
“We’re very pleased HickoryTech has rejoined the Russell 2000 Index," said John Finke, president and chief executive officer of HickoryTech. "Our success in growing our business and broadband services, the continued expansion of our fiber network, and our strong financial position are all creating long-term value for our shareholders. The Russell designation will bring additional visibility to our company and our strategic initiatives.”
The Russell 3000 also serves as the U.S. component to the Russell Global Index.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in institutional assets currently are benchmarked to them. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. More information about Russell Indexes, including total returns, is available at http://www.russell.com/Indexes/data/default.asp
HickoryTech Corporation is a leading communications provider serving business and residential customers in the upper Midwest. With headquarters in Mankato, Minn., the corporation has 460 employees and an expanded, multi-state fiber network spanning more than 2,750 route miles serving Minnesota, Iowa, North Dakota and South Dakota. Enventis provides IP-based voice and data solutions, MPLS networking, data center and managed hosted services and communication systems to businesses across a five-state region. HickoryTech delivers broadband Internet, Digital TV, voice and data services to businesses and consumers in southern Minnesota and northwest Iowa. The Company trades on the NASDAQ Stock Exchange, symbol: HTCO, and is a member of the Russell 2000 Index. For more information, visit www.hickorytech.com
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