Key Highlights

● FullNet paid its latest quarterly Dividend on 15 September 2026, following a Special Dividend announced in January 2026.

● Revenue for the three months ended 31 March 2026 rose 10% to about $1.38 million, while Net Income fell to about $173,000 from roughly $199,000.

● Gross Margin narrowed to 69.8% from 72.8% because of vendor price increases, and cash fell to about $2.73 million from $3.21 million at the end of 2025.

● Market data list a trailing twelve-month Yield of about 5.26% and an annual dividend of $0.0164 per share, against a declared quarterly rate of $0.0046.

FullNet Communications (OTC:FULO), an Oklahoma City-based integrated communications provider, is one of the few OTC-traded telecom microcaps that pays regular cash dividends. The company paid its latest quarterly dividend on 15 September 2026, following a special dividend earlier in the year, and has reported continued revenue growth. For investors who follow small, thinly traded income stocks, FullNet offers an unusual combination of profitability and Shareholder payouts, though its size, limited disclosure cadence and lack of index membership bring their own considerations.

Latest Company Context

FullNet does not file reports with the SEC; instead it publishes financial statements through the OTC Markets disclosure service under the alternative reporting framework. Its most recent report, an amended Quarterly Report for the three months ended 31 March 2026 posted on 21 May, showed revenue of about $1.38 million, up 10% from roughly $1.25 million a year earlier. Net income was about $173,000, compared with roughly $199,000 in the prior-year quarter, as gross margin narrowed to 69.8% from 72.8% because of vendor price increases.

Cash and equivalents stood at about $2.73 million at 31 March, down from $3.21 million at the end of 2025, largely reflecting common dividends of about $740,000 paid during the quarter, including a special dividend of roughly $650,000. For full-year 2024, the company had reported revenue of about $4.58 million and net income of about $549,000.

Key Business and Index Drivers

FullNet focuses on three main service lines: mass notification services, which send alerts via text messages and automated calls; equipment colocation, where clients house servers in its data facility; and outsourced help-desk support. It also provides internet access, web hosting and voice and data services. These recurring, contract-based revenues have supported consistent profitability in recent years, and the company reported no convertible Debt outstanding in its latest quarterly report.

Dividends are the most visible part of the company’s Capital allocation. FullNet declared a quarterly dividend of $0.0046 per share in May, paid in June, and announced another in August, payable on 15 September, according to its releases. A special dividend was announced in January 2026. Chief executive Jason Ayers has said the company believes quarterly cash dividends are the best use of some of its excess cash flow. According to market data as of early October 2026, the trailing twelve-month yield was about 5.26%, while the annual dividend figure of $0.0164 per share listed there is lower than four times the $0.0046 quarterly rate.

As an OTC Pink security, FullNet is not included in any major U.S. stock index.

What Investors Should Watch

FullNet’s next quarterly dividend announcement would be expected around mid-November if it follows its recent pattern. Its quarterly reports covering the June and September 2026 periods, once posted, would update revenue growth and margin trends.

Key questions include whether vendor cost increases continue to compress gross margin, whether cash balances remain sufficient to support both regular and special dividends, and whether growth in mass notification services persists. Because trading in FULO shares is typically thin, prices can move sharply on small volumes.

A Rare Dividend Payer on the OTC Market

FullNet Communications presents a profile uncommon among OTC telecom microcaps: steady revenue growth, consistent profits and a regular dividend. Its latest reported figures show rising sales but narrower margins and a reduced cash balance following a special payout. The next dividend declaration and the coming quarterly reports will show whether the payout holds alongside a narrower margin. Disclosure is infrequent and trading is typically thin.