How do wireless companies decide the split between dividends and investments? As a reference, TDS/USM said: On its Q2 earnings call, TDS' executives outlined a 75%-25% split in deploying capital; 75% would go towards investments in the business, both organic and inorganic, and the remaining 25% would be returned to shareholders, via both buybacks and dividends http://m.seekingalpha.com/article/1605492