The offer is part of the wireless company’s “Un-carrier” campaign. The share would go to the primary account holder among subscribers with post-paid accounts.
T-Mobile US is placing stock in its customers hands — financially, that is.
The Bellevue wireless carrier announced Monday it would give one share of stock to each primary account holder among subscribers with postpaid accounts. Customers can earn additional shares by referring friends to T-Mobile — one share per referral, up to 100 shares per year.
The company’s stock price closed Monday at $43.07, down 56 cents, or 1.3 percent.
CEO John Legere, known for his outspoken tactics to urge customers to switch to T-Mobile, announced the “Stock Up” news from New York’s Times Square at the company’s 11th “Un-carrier” event. T-Mobile has been holding the events for more than a year to announce new features and perks, often designed to get customers to switch from their current carrier to T-Mobile.
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Each customer who owns a primary account can claim his or her share by downloading the T-Mobile app and setting up a free brokerage account. Customers who have been with T-Mobile for more than five years will get two additional shares for each friend referred, and newer customers will get one share.
“You spend hard-earned money with us,” Legere said to customers Monday. “Our business success is because of you.”
A company filing estimates 1 million shares will be allocated, but Legere said on a call with news media that the company hopes even more people will take advantage of the promotion. T-Mobile is not changing its financial guidance for the year.
T-Mobile has been gaining customers faster than ever, adding 2.2 million customers during the first quarter. The No. 3 U.S. carrier now has more than 65.5 million subscribers.
Customers also will now get a free hour of Gogo in-flight Wi-Fi on every domestic flight. Previously, T-Mobile offered customers free texting while flying.
T-Mobile also announced it would give perks and prizes every Tuesday through its app, including free a Domino’s pizza, Wendy’s Frosty, and weekly Vudu movie rental.