T-Mobile plans to give its customers a chance to own company stock as part of its latest Un-carrier move, set to be announced Monday morning, according to a VentureBeat report, citing a person with inside knowledge of the company’s plans.
A single share of stock, currently trading at $43.63, will be awarded through an initial giveaway for people who download a new app called T-Mobile Tuesdays, which will offer a variety of promotions and giveaways to T-Mobile customers, according to the report.
But beyond that, postpaid wireless subscribers will be awarded an additional share for each new T-Mobile customer they bring into the fold, up to 99 shares per year, the VentureBeat report says. Longtime T-Mobile customers, people who have been with the company for more than five years, will receive two share for each customer referral.
For now, the report remains unconfirmed. T-Mobile has scheduled its Un-carrier 11 announcement for Monday morning, but hasn’t confirmed any details of its announcement.
Spurred by the arrival of CEO John Legere in 2012, the “Un-carrier” announcements over the past few years have ranged from unbundling the cost of the phone from a wireless plan to the Binge On streaming deal. They’ve helped T-Mobile add more than 1 million customers in each of the past 12 quarters as the company has established itself as the nation’s third-largest carrier.
T-Mobile beat Wall Street expectations for its most recent earnings report, posting $8.6 billion in revenue and $479 million in profit.
