Repurchases of Lumen Common Stock

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Repurchases of Lumen Common Stock

Repurchases of Lumen Common StockEffective August 3, 2021, our Board of Directors authorized a 24-month program to repurchase up to an aggregate of $1.0 billion of our outstanding common stock. During the year ended December 31, 2021, we repurchased under this program 80.9 million shares of our outstanding common stock in the open market for an aggregate market price of $1.0 billion, or an average purchase price of $12.36 per share, thereby fully exhausting the program. All repurchased common stock has been retired. As a result, common stock and additional paid-in capital were reduced as of December 31, 2021 by $81 million and $919 million, respectively.Dividends

Our Board of Directors declared the following dividends payable in 2021 and 2020:

Date Declared	Record Date	Dividend Per Share		Total Amount		Payment Date
				(in millions)
November 18, 2021	11/29/2021	$	0.25	$	251	12/10/2021
August 19, 2021	8/30/2021	0.25		264		9/10/2021
May 20, 2021	6/1/2021	0.25		272		6/11/2021
February 25, 2021	3/8/2021	0.25		276		3/19/2021
November 19, 2020	11/30/2020	0.25		274		12/11/2020
August 20, 2020	8/31/2020	0.25		274		9/11/2020
May 20, 2020	6/1/2020	0.25		274		6/12/2020
February 27, 2020	3/9/2020	0.25		274		3/20/2020

The declaration of dividends is solely at the discretion of our Board of Directors, which may change or terminate our dividend practice at any time for any reason without prior notice. On February 24, 2022, our Board of Directors declared a quarterly cash dividend of $0.25 per share.